Pump.fun (PUMP) is 353.2× the size of Pangolin (PNG) by market capitalisation. Over the past 1 year, PUMP is ahead by 92.1 percentage points (PNG -80.4% against PUMP +11.7%). Their daily returns move barely together (correlation 0.32 across 373 shared trading days). Both have run at a similar volatility, around 123% annualised.
PNGPUMP
0.32over 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 | PUMP |
|---|---|---|
| Max drawdown (400d) | -84.6% | -83.1% |
| Risk-adjusted return (90d) | 0.08 | 0.55 |
| Best 30 days (past year) | +43.8% | +185.0% |
| Worst 30 days (past year) | -51.7% | -43.2% |
Relative strength over 90 days: PUMP outperformed PNG by 63.9% — measured on the PNG/PUMP ratio, so it holds regardless of market direction.