Pudgy Penguins (PENGU) is 12.2× the size of Peanut the Squirrel (PNUT) by market capitalisation. Over the past 1 year, PENGU is ahead by 15.1 percentage points (PNUT -64.3% against PENGU -49.3%). Their daily returns move closely together (correlation 0.76 across 399 shared trading days). Both have run at a similar volatility, around 103% annualised.
PNUTPENGU
0.76over 399 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 | PNUT | PENGU |
|---|---|---|
| Max drawdown (400d) | -83.3% | -82.4% |
| Risk-adjusted return (90d) | -0.04 | 0.21 |
| Best 30 days (past year) | +53.8% | +74.9% |
| Worst 30 days (past year) | -51.1% | -55.1% |
Relative strength over 90 days: PENGU outperformed PNUT by 20.1% — measured on the PNUT/PENGU ratio, so it holds regardless of market direction.