Chunkee The Manatee (CHUNKEE) and Launch (LAUNCH) compared side by side. Their daily returns move barely together (correlation 0.10 across 20 shared trading days). CHUNKEE has been the more volatile of the two, at 3164% annualised against LAUNCH's 641%.
CHUNKEELAUNCH
0.10over 20 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 | CHUNKEE | LAUNCH |
|---|---|---|
| Max drawdown (400d) | -98.6% | -99.5% |
| Risk-adjusted return (90d) | -0.03 | — |
Relative strength over 90 days: CHUNKEE outperformed LAUNCH by 181.9% — measured on the CHUNKEE/LAUNCH ratio, so it holds regardless of market direction.