catwifhat ($CWIF) is 28.2× the size of mini (MINI) by market capitalisation. Over the past 30 days, MINI is ahead by 6.7 percentage points (MINI -42.7% against $CWIF -49.5%). Their daily returns move barely together (correlation 0.35 across 36 shared trading days). Both have run at a similar volatility, around 130% annualised.
MINI$CWIF
0.35over 36 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 | MINI | $CWIF |
|---|---|---|
| Max drawdown (400d) | -50.5% | -49.5% |
| Risk-adjusted return (90d) | -0.34 | -0.39 |
Relative strength over 90 days: MINI outperformed $CWIF by 6.4% — measured on the MINI/$CWIF ratio, so it holds regardless of market direction.