Pump.fun (PUMP) is 62575.3× the size of MacroHard (MHRD) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.13 across 21 shared trading days). MHRD has been the more volatile of the two, at 5372% annualised against PUMP's 127%.
MHRDPUMP
-0.13over 21 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 | MHRD | PUMP |
|---|---|---|
| Max drawdown (400d) | -89.3% | -83.1% |
| Risk-adjusted return (90d) | 0.00 | 0.53 |
| Best 30 days (past year) | — | +185.0% |
| Worst 30 days (past year) | — | -43.2% |
Relative strength over 90 days: MHRD outperformed PUMP by 37.0% — measured on the MHRD/PUMP ratio, so it holds regardless of market direction.