Hunter Biden's Laptop (LAPTOP) is 13.0× the size of MAGA Hat (MAGA) by market capitalisation. Their daily returns move closely together (correlation 0.77 across 20 shared trading days). LAPTOP has been the more volatile of the two, at 195% annualised against MAGA's 93%.
$0.043114
MAGALAPTOP
0.77over 20 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 | MAGA | LAPTOP |
|---|---|---|
| Max drawdown (400d) | -33.3% | -60.9% |
| Risk-adjusted return (90d) | -0.25 | -0.30 |
Relative strength over 90 days: MAGA outperformed LAPTOP by 76.3% — measured on the MAGA/LAPTOP ratio, so it holds regardless of market direction.