Ape and Pepe (APEPE) is 5145.9× the size of Landwolf (WOLF) by market capitalisation. Their daily returns move loosely together (correlation 0.37 across 38 shared trading days). Both have run at a similar volatility, around 91% annualised.
WOLFAPEPE
0.37over 38 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 | WOLF | APEPE |
|---|---|---|
| Max drawdown (400d) | -64.7% | -24.0% |
| Risk-adjusted return (90d) | -0.28 | 0.31 |
Relative strength over 90 days: APEPE outperformed WOLF by 33.6% — measured on the WOLF/APEPE ratio, so it holds regardless of market direction.