MemeCore (M) is 25694.8× the size of Hoppy Token (HOPPY) by market capitalisation. Their daily returns move barely together (correlation 0.29 across 21 shared trading days). HOPPY has been the more volatile of the two, at 137% annualised against M's 108%.
HOPPYM
0.29over 21 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 | HOPPY | M |
|---|---|---|
| Max drawdown (400d) | -70.7% | -41.1% |
| Risk-adjusted return (90d) | -0.41 | -0.25 |
Relative strength over 90 days: HOPPY outperformed M by 63.4% — measured on the HOPPY/M ratio, so it holds regardless of market direction.