MEME HORSE (MHORSE) is 85.4× the size of 老子 (Laozi) (老子) by market capitalisation. Their daily returns move loosely together (correlation 0.40 across 45 shared trading days). 老子 has been the more volatile of the two, at 293% annualised against MHORSE's 110%.
老子MHORSE
0.40over 45 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 | 老子 | MHORSE |
|---|---|---|
| Max drawdown (400d) | -98.1% | -44.4% |
| Risk-adjusted return (90d) | -0.09 | -0.30 |
Relative strength over 90 days: 老子 outperformed MHORSE by 28.9% — measured on the 老子/MHORSE ratio, so it holds regardless of market direction.