Anonymous Cat (ZCAT) is 6649.9× the size of Cashcat Chain (CCC) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 22 shared trading days). ZCAT has been the more volatile of the two, at 290% annualised against CCC's 69%.
CCCZCAT
0.41over 22 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 | CCC | ZCAT |
|---|---|---|
| Max drawdown (400d) | -33.8% | -67.3% |
| Risk-adjusted return (90d) | -0.49 | -0.20 |
Relative strength over 90 days: ZCAT outperformed CCC by 11.9% — measured on the CCC/ZCAT ratio, so it holds regardless of market direction.