Shiba Inu (SHIB) is 246.8× the size of ElonXCat (EXC) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.11 across 23 shared trading days). SHIB has been the more volatile of the two, at 69% annualised against EXC's 41%.
EXCSHIB
-0.11over 23 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 | EXC | SHIB |
|---|---|---|
| Max drawdown (400d) | -12.2% | -68.0% |
| Risk-adjusted return (90d) | -0.22 | -0.08 |
| Best 30 days (past year) | — | +39.1% |
| Worst 30 days (past year) | — | -38.4% |
Relative strength over 90 days: EXC outperformed SHIB by 13.7% — measured on the EXC/SHIB ratio, so it holds regardless of market direction.