Buy The Cat (BTC) and Anonymous Cat (ZCAT) compared side by side. Over the past 30 days, ZCAT is ahead by 11.0 percentage points (BTC -55.2% against ZCAT -44.2%). Their daily returns move barely together (correlation 0.01 across 35 shared trading days). BTC has been the more volatile of the two, at 123614% annualised against ZCAT's 294%.
BTCZCAT
0.01over 35 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 | BTC | ZCAT |
|---|---|---|
| Max drawdown (400d) | -99.9% | -66.4% |
| Risk-adjusted return (90d) | 0.00 | -0.19 |
Relative strength over 90 days: ZCAT outperformed BTC by 49.9% — measured on the BTC/ZCAT ratio, so it holds regardless of market direction.