Pepe (PEPE) is 24831.8× the size of Meme Millionaires (MFM) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 31 shared trading days). MFM has been the more volatile of the two, at 126% annualised against PEPE's 102%.
MFMPEPE
0.24over 31 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 | MFM | PEPE |
|---|---|---|
| Max drawdown (400d) | -17.3% | -77.2% |
| Risk-adjusted return (90d) | 0.20 | 0.71 |
| Best 30 days (past year) | — | +63.5% |
| Worst 30 days (past year) | — | -48.9% |
Relative strength over 90 days: MFM outperformed PEPE by 11.0% — measured on the MFM/PEPE ratio, so it holds regardless of market direction.