Ape and Pepe (APEPE) is 7787.0× the size of Land Wu (LANDWU) by market capitalisation. Their daily returns move barely together (correlation 0.00 across 23 shared trading days). Both have run at a similar volatility, around 92% annualised.
LANDWUAPEPE
0.00over 23 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 | LANDWU | APEPE |
|---|---|---|
| Max drawdown (400d) | -65.5% | -24.0% |
| Risk-adjusted return (90d) | -0.26 | 0.31 |
Relative strength over 90 days: APEPE outperformed LANDWU by 14.9% — measured on the LANDWU/APEPE ratio, so it holds regardless of market direction.