Pudgy Penguins (PENGU) is 330.3× the size of Monkey Pox (POX) by market capitalisation. Their daily returns move loosely together (correlation 0.42 across 40 shared trading days). POX has been the more volatile of the two, at 126% annualised against PENGU's 104%.
POXPENGU
0.42over 40 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 | POX | PENGU |
|---|---|---|
| Max drawdown (400d) | -44.6% | -82.4% |
| Risk-adjusted return (90d) | -0.34 | 0.13 |
| Best 30 days (past year) | — | +74.9% |
| Worst 30 days (past year) | — | -55.1% |
Relative strength over 90 days: PENGU outperformed POX by 30.9% — measured on the POX/PENGU ratio, so it holds regardless of market direction.