Pepe (PEPE) is 438758.7× the size of Liquid Sonic Drop (LSD) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 184 shared trading days). LSD has been the more volatile of the two, at 186% annualised against PEPE's 102%.
LSDPEPE
0.24over 184 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 | LSD | PEPE |
|---|---|---|
| Max drawdown (400d) | -98.0% | -77.2% |
| Risk-adjusted return (90d) | -0.59 | 0.65 |
| Best 30 days (past year) | — | +63.5% |
| Worst 30 days (past year) | — | -48.9% |
Relative strength over 90 days: PEPE outperformed LSD by 89.6% — measured on the LSD/PEPE ratio, so it holds regardless of market direction.