Fren Pet (FP) is 14.0× the size of Octokn (OTK) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.35 across 43 shared trading days). OTK has been the more volatile of the two, at 643% annualised against FP's 379%.
OTKFP
-0.35over 43 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 | OTK | FP |
|---|---|---|
| Max drawdown (400d) | -93.5% | -63.0% |
| Risk-adjusted return (90d) | 0.33 | 0.59 |
| Best 30 days (past year) | +736.5% | — |
| Worst 30 days (past year) | -60.9% | — |
Relative strength over 90 days: OTK outperformed FP by 102.3% — measured on the OTK/FP ratio, so it holds regardless of market direction.