Meme Index (MEMEX) and Rain (RAIN) compared side by side. Over the past 30 days, MEMEX is ahead by 40.7 percentage points (MEMEX -17.5% against RAIN -58.2%). Their daily returns move barely together (correlation 0.32 across 23 shared trading days). RAIN has been the more volatile of the two, at 134% annualised against MEMEX's 87%.
MEMEXRAIN
0.32over 23 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 | MEMEX | RAIN |
|---|---|---|
| Max drawdown (400d) | -26.5% | -68.5% |
| Risk-adjusted return (90d) | -0.11 | -0.37 |
Relative strength over 90 days: MEMEX outperformed RAIN by 35.3% — measured on the MEMEX/RAIN ratio, so it holds regardless of market direction.