Pepe (PEPE) is 12349.0× the size of Jaypeggers (JAY) by market capitalisation. Their daily returns move loosely together (correlation 0.38 across 186 shared trading days). PEPE has been the more volatile of the two, at 102% annualised against JAY's 59%.
JAYPEPE
0.38over 186 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 | JAY | PEPE |
|---|---|---|
| Max drawdown (400d) | -58.3% | -77.2% |
| Risk-adjusted return (90d) | 0.03 | 0.71 |
| Best 30 days (past year) | — | +63.5% |
| Worst 30 days (past year) | — | -48.9% |
Relative strength over 90 days: PEPE outperformed JAY by 19.3% — measured on the JAY/PEPE ratio, so it holds regardless of market direction.