Anonymous Cat (ZCAT) is 2490.2× the size of Inu Hariko (HARIKO) by market capitalisation. Their daily returns move loosely together (correlation 0.38 across 24 shared trading days). ZCAT has been the more volatile of the two, at 290% annualised against HARIKO's 66%.
HARIKOZCAT
0.38over 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 | HARIKO | ZCAT |
|---|---|---|
| Max drawdown (400d) | -27.8% | -67.3% |
| Risk-adjusted return (90d) | -0.42 | -0.20 |
Relative strength over 90 days: HARIKO outperformed ZCAT by 28.5% — measured on the HARIKO/ZCAT ratio, so it holds regardless of market direction.