Manifest vs Popcat

Popcat (POPCAT) is 241.7× the size of Manifest (MANIFEST) by market capitalisation. Over the past 30 days, POPCAT is ahead by 19.7 percentage points (MANIFEST -35.5% against POPCAT -15.8%). Their daily returns move barely together (correlation 0.25 across 20 shared trading days). POPCAT has been the more volatile of the two, at 102% annualised against MANIFEST's 44%.

Correlation: 0.25
Size ratio: 1 : 241.7
Ahead over 30 days: POPCAT

ManifestMANIFEST

$0.000161

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

PopcatPOPCAT

$0.039775

24h: -1.15%
Market cap: $38.98M
Volume 24h: $3.86M
Volatility (ann.): 102%

MANIFEST 0.4%Share of the two combined market caps99.6% POPCAT

Performance

MANIFESTPOPCAT

7 days-11.16%-8.15%POPCAT
30 days-35.49%-15.77%POPCAT

Correlation

0.25over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	POPCAT
Max drawdown (400d)	-36.5%	-35.5%
Risk-adjusted return (90d)	-0.78	-0.13

Relative strength over 90 days: POPCAT outperformed MANIFEST by 0.3% — measured on the MANIFEST/POPCAT ratio, so it holds regardless of market direction.

Manifest →Popcat →