Anonymous Cat (ZCAT) is 2334.1× the size of Grumpy Cat (GRUMPY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.23 across 24 shared trading days). GRUMPY has been the more volatile of the two, at 494% annualised against ZCAT's 307%.
GRUMPYZCAT
-0.23over 24 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 | GRUMPY | ZCAT |
|---|---|---|
| Max drawdown (400d) | -72.5% | -55.7% |
| Risk-adjusted return (90d) | -0.13 | -0.06 |
Relative strength over 90 days: ZCAT outperformed GRUMPY by 66.6% — measured on the GRUMPY/ZCAT ratio, so it holds regardless of market direction.