PirateCash vs XPIN Network

XPIN Network (XPIN) is 21.7× the size of PirateCash (PIRATE) by market capitalisation. Over the past 30 days, PIRATE is ahead by 17.5 percentage points (PIRATE -4.4% against XPIN -21.9%). Their daily returns move barely together (correlation 0.32 across 35 shared trading days). XPIN has been the more volatile of the two, at 117% annualised against PIRATE's 22%.

Correlation: 0.32
Size ratio: 1 : 21.7
Ahead over 30 days: PIRATE

PirateCashPIRATE

$0.021393

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

XPIN NetworkXPIN

$0.000703

24h: -0.26%
Market cap: $32.49M
Volume 24h: $1.06M
Volatility (ann.): 117%

PIRATE 4.4%Share of the two combined market caps95.6% XPIN

Performance

PIRATEXPIN

7 days-3.03%-3.21%PIRATE
30 days-4.37%-21.86%PIRATE

Correlation

0.32over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3190d: 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	XPIN
Max drawdown (400d)	-8.3%	-41.0%
Risk-adjusted return (90d)	0.03	-0.27

Relative strength over 90 days: PIRATE outperformed XPIN by 53.8% — measured on the PIRATE/XPIN ratio, so it holds regardless of market direction.

PirateCash →XPIN Network →