Jupiter (JUP) is 34.5× the size of Momentum (MMT) by market capitalisation. Over the past 1 year, JUP is ahead by 64.2 percentage points (MMT -95.5% against JUP -31.3%). Their daily returns move barely together (correlation 0.26 across 365 shared trading days). MMT has been the more volatile of the two, at 142% annualised against JUP's 97%.
MMTJUP
0.26over 365 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 | MMT | JUP |
|---|---|---|
| Max drawdown (400d) | -96.1% | -70.9% |
| Risk-adjusted return (90d) | -0.26 | 0.29 |
| Best 30 days (past year) | — | +68.3% |
| Worst 30 days (past year) | — | -41.5% |
Relative strength over 90 days: JUP outperformed MMT by 42.7% — measured on the MMT/JUP ratio, so it holds regardless of market direction.