Pudgy Penguins (PENGU) is 28139.8× the size of gooch coin (GOOCH COIN) by market capitalisation. Their daily returns move loosely together (correlation 0.54 across 32 shared trading days). PENGU has been the more volatile of the two, at 104% annualised against GOOCH COIN's 59%.
GOOCH COINPENGU
0.54over 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 | GOOCH COIN | PENGU |
|---|---|---|
| Max drawdown (400d) | -28.4% | -82.4% |
| Risk-adjusted return (90d) | -0.45 | 0.07 |
| Best 30 days (past year) | — | +74.9% |
| Worst 30 days (past year) | — | -55.1% |
Relative strength over 90 days: GOOCH COIN outperformed PENGU by 7.5% — measured on the GOOCH COIN/PENGU ratio, so it holds regardless of market direction.