Pudgy Penguins (PENGU) is 14182.0× the size of Justice for Zachxbt (ZACHXBT) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 31 shared trading days). ZACHXBT has been the more volatile of the two, at 162554% annualised against PENGU's 104%.
ZACHXBTPENGU
0.08over 31 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 | ZACHXBT | PENGU |
|---|---|---|
| Max drawdown (400d) | -99.8% | -82.4% |
| Risk-adjusted return (90d) | 0.00 | 0.07 |
| Best 30 days (past year) | — | +74.9% |
| Worst 30 days (past year) | — | -55.1% |
Relative strength over 90 days: ZACHXBT outperformed PENGU by 0.8% — measured on the ZACHXBT/PENGU ratio, so it holds regardless of market direction.