Pipe Network vs Grass

Grass (GRASS) is 549.2× the size of Pipe Network (PIPE) by market capitalisation. Their daily returns move loosely together (correlation 0.35 across 44 shared trading days). GRASS has been the more volatile of the two, at 213% annualised against PIPE's 175%.

Correlation: 0.35
Size ratio: 1 : 549.2

Pipe NetworkPIPE

$0.008026

24h: -15.71%
Market cap: $802,614
Volume 24h: $245,411
Volatility (ann.): 175%

GrassGRASS

$0.609839

24h: +7.54%
Market cap: $440.78M
Volume 24h: $21.93M
Volatility (ann.): 213%

PIPE 0.2%Share of the two combined market caps99.8% GRASS

Performance

PIPEGRASS

7 days-47.77%-23.53%GRASS
30 days-53.59%+72.43%GRASS
90 days-2.30%——

Correlation

0.35over 44 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6090d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	PIPE	GRASS
Max drawdown (400d)	-65.8%	-25.3%
Risk-adjusted return (90d)	-0.01	0.35

Relative strength over 90 days: GRASS outperformed PIPE by 70.7% — measured on the PIPE/GRASS ratio, so it holds regardless of market direction.

Pipe Network →Grass →