Popcat (POPCAT) is 21.2× the size of Loaf Token (LOAF) by market capitalisation. Over the past 30 days, LOAF is ahead by 6.6 percentage points (LOAF -10.2% against POPCAT -16.8%). Their daily returns move closely together (correlation 0.76 across 33 shared trading days). Both have run at a similar volatility, around 99% annualised.
LOAFPOPCAT
0.76over 33 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 | LOAF | POPCAT |
|---|---|---|
| Max drawdown (400d) | -28.6% | -35.5% |
| Risk-adjusted return (90d) | -0.17 | -0.13 |
Relative strength over 90 days: LOAF outperformed POPCAT by 13.0% — measured on the LOAF/POPCAT ratio, so it holds regardless of market direction.