Pump.fun (PUMP) is 4985.9× the size of Ping Ping and Fu Shuang (熊猫) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.06 across 39 shared trading days). 熊猫 has been the more volatile of the two, at 583% annualised against PUMP's 127%.
熊猫PUMP
-0.06over 39 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 | 熊猫 | PUMP |
|---|---|---|
| Max drawdown (400d) | -71.4% | -83.1% |
| Risk-adjusted return (90d) | -0.07 | 0.53 |
| Best 30 days (past year) | — | +185.0% |
| Worst 30 days (past year) | — | -43.2% |
Relative strength over 90 days: PUMP outperformed 熊猫 by 39.6% — measured on the 熊猫/PUMP ratio, so it holds regardless of market direction.