PunkStrategy (PNKSTR) is 43.8× the size of GobStrategy (GOBSTR) by market capitalisation. Their daily returns move closely together (correlation 0.65 across 22 shared trading days). PNKSTR has been the more volatile of the two, at 213% annualised against GOBSTR's 78%.
GOBSTRPNKSTR
0.65over 22 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 | GOBSTR | PNKSTR |
|---|---|---|
| Max drawdown (400d) | -64.0% | -53.5% |
| Risk-adjusted return (90d) | -0.18 | 0.09 |
Relative strength over 90 days: PNKSTR outperformed GOBSTR by 24.7% — measured on the GOBSTR/PNKSTR ratio, so it holds regardless of market direction.