Purr (PURR) is 1250.9× the size of Ink Cat (ICAT) by market capitalisation. Over the past 30 days, PURR is ahead by 36.1 percentage points (ICAT -27.7% against PURR +8.4%). Their daily returns move barely together (correlation 0.14 across 21 shared trading days). Both have run at a similar volatility, around 208% annualised.
ICATPURR
0.14over 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 | ICAT | PURR |
|---|---|---|
| Max drawdown (400d) | -56.3% | -43.9% |
| Risk-adjusted return (90d) | -0.23 | 0.10 |
Relative strength over 90 days: PURR outperformed ICAT by 28.2% — measured on the ICAT/PURR ratio, so it holds regardless of market direction.