Zebec Network (ZBCN) is 43.5× the size of PinLink (PIN) by market capitalisation. Their daily returns move loosely together (correlation 0.39 across 45 shared trading days). PIN has been the more volatile of the two, at 200% annualised against ZBCN's 106%.
PINZBCN
0.39over 45 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 | PIN | ZBCN |
|---|---|---|
| Max drawdown (400d) | -50.6% | -20.8% |
| Risk-adjusted return (90d) | 0.19 | 0.23 |
Relative strength over 90 days: PIN outperformed ZBCN by 85.3% — measured on the PIN/ZBCN ratio, so it holds regardless of market direction.