Giggle Mascot (MAX) is 30.6× the size of Feed The World (FW) by market capitalisation. Their daily returns move barely together (correlation 0.15 across 27 shared trading days). MAX has been the more volatile of the two, at 590% annualised against FW's 95%.
FWMAX
0.15over 27 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 | FW | MAX |
|---|---|---|
| Max drawdown (400d) | -61.0% | -90.7% |
| Risk-adjusted return (90d) | -0.13 | -0.07 |
Relative strength over 90 days: MAX outperformed FW by 8.1% — measured on the FW/MAX ratio, so it holds regardless of market direction.