Jupiter (JUP) is 148.3× the size of Pangolin (PNG) by market capitalisation. Over the past 1 year, JUP is ahead by 49.1 percentage points (PNG -80.4% against JUP -31.3%). Their daily returns move loosely together (correlation 0.44 across 373 shared trading days). PNG has been the more volatile of the two, at 119% annualised against JUP's 97%.
PNGJUP
0.44over 373 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 | PNG | JUP |
|---|---|---|
| Max drawdown (400d) | -84.6% | -70.9% |
| Risk-adjusted return (90d) | 0.08 | 0.29 |
| Best 30 days (past year) | +43.8% | +68.3% |
| Worst 30 days (past year) | -51.7% | -41.5% |
Relative strength over 90 days: JUP outperformed PNG by 12.5% — measured on the PNG/JUP ratio, so it holds regardless of market direction.