Hamster Kombat (HMSTR) is 29.2× the size of Emperor (EMPI) by market capitalisation. Their daily returns move barely together (correlation 0.11 across 32 shared trading days). HMSTR has been the more volatile of the two, at 135% annualised against EMPI's 30%.
EMPIHMSTR
0.11over 32 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 | EMPI | HMSTR |
|---|---|---|
| Max drawdown (400d) | -8.9% | -80.5% |
| Risk-adjusted return (90d) | -0.21 | -0.44 |
| Best 30 days (past year) | — | +121.8% |
| Worst 30 days (past year) | — | -48.9% |
Relative strength over 90 days: EMPI outperformed HMSTR by 17.0% — measured on the EMPI/HMSTR ratio, so it holds regardless of market direction.