Pudgy Penguins (PENGU) is 9.6× the size of BOOK OF MEME (BOME) by market capitalisation. Over the past 1 year, BOME is ahead by 32.3 percentage points (BOME -25.5% against PENGU -57.8%). Their daily returns move closely together (correlation 0.68 across 399 shared trading days). BOME has been the more volatile of the two, at 121% annualised against PENGU's 104%.
BOMEPENGU
0.68over 399 shared trading days
Measured on daily returns rather than on prices. Two assets that both simply trend upward score near 1.0 on raw prices whether or not they move together, so returns are what answer the question people mean by correlation.
| Metric | BOME | PENGU |
|---|---|---|
| Max drawdown (400d) | -79.5% | -82.4% |
| Risk-adjusted return (90d) | 0.02 | 0.07 |
| Best 30 days (past year) | +186.8% | +74.9% |
| Worst 30 days (past year) | -52.9% | -55.1% |
Relative strength over 90 days: PENGU outperformed BOME by 4.1% — measured on the BOME/PENGU ratio, so it holds regardless of market direction.