catwifhat ($CWIF) is 332.6× the size of catty (CATTY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.29 across 21 shared trading days). $CWIF has been the more volatile of the two, at 131% annualised against CATTY's 28%.
CATTY$CWIF
-0.29over 21 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 | CATTY | $CWIF |
|---|---|---|
| Max drawdown (400d) | -54.8% | -49.5% |
| Risk-adjusted return (90d) | -0.83 | -0.33 |
Relative strength over 90 days: CATTY outperformed $CWIF by 14.5% — measured on the CATTY/$CWIF ratio, so it holds regardless of market direction.