Purr (PURR) is 3410.3× the size of Pineapple Cat (PICA) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.06 across 25 shared trading days). Both have run at a similar volatility, around 210% annualised.
PICAPURR
-0.06over 25 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 | PURR |
|---|---|---|
| Max drawdown (400d) | -87.5% | -43.9% |
| Risk-adjusted return (90d) | -0.10 | 0.01 |
Relative strength over 90 days: PICA outperformed PURR by 54.0% — measured on the PICA/PURR ratio, so it holds regardless of market direction.