Pump.fun (PUMP) is 79.2× the size of Momentum (MMT) by market capitalisation. Over the past 1 year, PUMP is ahead by 107.2 percentage points (MMT -95.5% against PUMP +11.7%). Their daily returns move barely together (correlation 0.18 across 365 shared trading days). Both have run at a similar volatility, around 135% annualised.
MMTPUMP
0.18over 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 | PUMP |
|---|---|---|
| Max drawdown (400d) | -96.1% | -83.1% |
| Risk-adjusted return (90d) | -0.26 | 0.55 |
| Best 30 days (past year) | — | +185.0% |
| Worst 30 days (past year) | — | -43.2% |
Relative strength over 90 days: PUMP outperformed MMT by 57.9% — measured on the MMT/PUMP ratio, so it holds regardless of market direction.