Manifest vs Anonymous Cat

Anonymous Cat (ZCAT) is 156.2× the size of Manifest (MANIFEST) by market capitalisation. Over the past 30 days, MANIFEST is ahead by 7.9 percentage points (MANIFEST -35.5% against ZCAT -43.4%). Their daily returns move barely together (correlation 0.25 across 35 shared trading days). ZCAT has been the more volatile of the two, at 290% annualised against MANIFEST's 44%.

Correlation: 0.25
Size ratio: 1 : 156.2
Ahead over 30 days: MANIFEST

ManifestMANIFEST

$0.000161

24h: +0.06%
Market cap: $161,301
Volume 24h: $5,804
Volatility (ann.): 44%

Anonymous CatZCAT

$0.026079

24h: +8.37%
Market cap: $25.19M
Volume 24h: $1.78M
Volatility (ann.): 290%

MANIFEST 0.6%Share of the two combined market caps99.4% ZCAT

Performance

MANIFESTZCAT

7 days-11.16%-47.53%MANIFEST
30 days-35.49%-43.37%MANIFEST

Correlation

0.25over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2490d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	MANIFEST	ZCAT
Max drawdown (400d)	-36.5%	-67.3%
Risk-adjusted return (90d)	-0.78	-0.20

Relative strength over 90 days: MANIFEST outperformed ZCAT by 18.6% — measured on the MANIFEST/ZCAT ratio, so it holds regardless of market direction.

Manifest →Anonymous Cat →