PirateCash vs Spacecoin

Spacecoin (SPACE) is 14.8× the size of PirateCash (PIRATE) by market capitalisation. Over the past 30 days, PIRATE is ahead by 22.6 percentage points (PIRATE -4.4% against SPACE -26.9%). Their daily returns move loosely together (correlation 0.56 across 34 shared trading days). SPACE has been the more volatile of the two, at 105% annualised against PIRATE's 22%.

Correlation: 0.56
Size ratio: 1 : 14.8
Ahead over 30 days: PIRATE

PirateCashPIRATE

$0.021393

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

SpacecoinSPACE

$0.003384

24h: +0.94%
Market cap: $22.05M
Volume 24h: $830,266
Volatility (ann.): 105%

PIRATE 6.3%Share of the two combined market caps93.7% SPACE

Performance

PIRATESPACE

7 days-3.03%-4.23%PIRATE
30 days-4.37%-26.92%PIRATE

Correlation

0.56over 34 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	PIRATE	SPACE
Max drawdown (400d)	-8.3%	-32.2%
Risk-adjusted return (90d)	0.03	-0.21

Relative strength over 90 days: PIRATE outperformed SPACE by 31.1% — measured on the PIRATE/SPACE ratio, so it holds regardless of market direction.

PirateCash →Spacecoin →