Ape and Pepe (APEPE) is 6455.0× the size of Groggo By Matt Furie (GROGGO) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 34 shared trading days). GROGGO has been the more volatile of the two, at 108% annualised against APEPE's 91%.
GROGGOAPEPE
0.41over 34 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 | GROGGO | APEPE |
|---|---|---|
| Max drawdown (400d) | -61.7% | -24.0% |
| Risk-adjusted return (90d) | -0.56 | 0.31 |
Relative strength over 90 days: APEPE outperformed GROGGO by 13.0% — measured on the GROGGO/APEPE ratio, so it holds regardless of market direction.