Peanut the Squirrel (PNUT) is 3143.1× the size of New Baby Elephant Houston Zoo (KIRBY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.11 across 27 shared trading days). PNUT has been the more volatile of the two, at 103% annualised against KIRBY's 48%.
KIRBYPNUT
-0.11over 27 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 | KIRBY | PNUT |
|---|---|---|
| Max drawdown (400d) | -25.0% | -83.3% |
| Risk-adjusted return (90d) | -0.47 | -0.04 |
| Best 30 days (past year) | — | +53.8% |
| Worst 30 days (past year) | — | -51.1% |
Relative strength over 90 days: KIRBY outperformed PNUT by 9.5% — measured on the KIRBY/PNUT ratio, so it holds regardless of market direction.