Pepe (PEPE) is 8292.4× the size of Lockheed Martin Inu (LMI) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.08 across 29 shared trading days). LMI has been the more volatile of the two, at 16608% annualised against PEPE's 102%.
LMIPEPE
-0.08over 29 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 | LMI | PEPE |
|---|---|---|
| Max drawdown (400d) | -39.9% | -77.2% |
| Risk-adjusted return (90d) | 0.21 | 0.71 |
| Best 30 days (past year) | — | +63.5% |
| Worst 30 days (past year) | — | -48.9% |
Relative strength over 90 days: LMI outperformed PEPE by 3001.1% — measured on the LMI/PEPE ratio, so it holds regardless of market direction.