Pieverse (PIEVERSE) is 2147.1× the size of Fireverse (FIR) by market capitalisation. Their daily returns move loosely together (correlation 0.40 across 35 shared trading days). FIR has been the more volatile of the two, at 196% annualised against PIEVERSE's 144%.
FIRPIEVERSE
0.40over 35 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 | FIR | PIEVERSE |
|---|---|---|
| Max drawdown (400d) | -99.5% | -38.7% |
| Risk-adjusted return (90d) | -0.38 | 0.28 |
Relative strength over 90 days: PIEVERSE outperformed FIR by 39.9% — measured on the FIR/PIEVERSE ratio, so it holds regardless of market direction.