Fartcoin (FARTCOIN) is 50054.7× the size of Planet Fatness (PHAT) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.40 across 31 shared trading days). PHAT has been the more volatile of the two, at 293% annualised against FARTCOIN's 155%.
PHATFARTCOIN
-0.40over 31 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 | PHAT | FARTCOIN |
|---|---|---|
| Max drawdown (400d) | -98.1% | -46.0% |
| Risk-adjusted return (90d) | -0.44 | -0.08 |
Relative strength over 90 days: FARTCOIN outperformed PHAT by 86.6% — measured on the PHAT/FARTCOIN ratio, so it holds regardless of market direction.