Pump.fun (PUMP) is 3628.6× the size of emonad (EMO) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 40 shared trading days). EMO has been the more volatile of the two, at 393% annualised against PUMP's 127%.
EMOPUMP
0.05over 40 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 | EMO | PUMP |
|---|---|---|
| Max drawdown (400d) | -64.2% | -83.1% |
| Risk-adjusted return (90d) | 0.08 | 0.53 |
| Best 30 days (past year) | — | +185.0% |
| Worst 30 days (past year) | — | -43.2% |
Relative strength over 90 days: EMO outperformed PUMP by 37.1% — measured on the EMO/PUMP ratio, so it holds regardless of market direction.