MemeCore (M) is 219.6× the size of Opinion (OPN) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.17 across 58 shared trading days). OPN has been the more volatile of the two, at 170% annualised against M's 108%.
OPNM
-0.17over 58 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 | OPN | M |
|---|---|---|
| Max drawdown (400d) | -88.8% | -41.1% |
| Risk-adjusted return (90d) | -0.20 | -0.23 |
Relative strength over 90 days: OPN outperformed M by 7.3% — measured on the OPN/M ratio, so it holds regardless of market direction.