Cash Cat (CASHCAT) is 5009.2× the size of Pineapple Cat (PICA) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 24 shared trading days). CASHCAT has been the more volatile of the two, at 263% annualised against PICA's 196%.
PICACASHCAT
0.05over 24 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 | PICA | CASHCAT |
|---|---|---|
| Max drawdown (400d) | -87.5% | -70.0% |
| Risk-adjusted return (90d) | -0.10 | -0.09 |
Relative strength over 90 days: PICA outperformed CASHCAT by 26.6% — measured on the PICA/CASHCAT ratio, so it holds regardless of market direction.