PirateCash vs Depinsim

Depinsim (ESIM) is 8.2× the size of PirateCash (PIRATE) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.39 across 37 shared trading days). ESIM has been the more volatile of the two, at 319% annualised against PIRATE's 22%.

Correlation: -0.39
Size ratio: 1 : 8.2

PirateCashPIRATE

$0.021393

24h: +0.21%
Market cap: $1.49M
Volume 24h: $164,405
Volatility (ann.): 22%

DepinsimESIM

$0.091068

24h: -0.89%
Market cap: $12.25M
Volume 24h: $1.23M
Volatility (ann.): 319%

PIRATE 10.9%Share of the two combined market caps89.1% ESIM

Performance

PIRATEESIM

7 days-3.03%-1.68%ESIM
30 days-4.37%+230.89%ESIM
90 days—+208.15%—

Correlation

-0.39over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4590d: 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	PIRATE	ESIM
Max drawdown (400d)	-8.3%	-68.6%
Risk-adjusted return (90d)	0.03	0.65

Relative strength over 90 days: ESIM outperformed PIRATE by 78.3% — measured on the PIRATE/ESIM ratio, so it holds regardless of market direction.

PirateCash →Depinsim →