Based (BASED) is 75.3× the size of Polycule (PCULE) by market capitalisation. Their daily returns move loosely together (correlation 0.45 across 33 shared trading days). PCULE has been the more volatile of the two, at 542% annualised against BASED's 232%.
PCULEBASED
0.45over 33 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 | PCULE | BASED |
|---|---|---|
| Max drawdown (400d) | -89.7% | -100.0% |
| Risk-adjusted return (90d) | -0.13 | -0.44 |
Relative strength over 90 days: PCULE outperformed BASED by 864303.4% — measured on the PCULE/BASED ratio, so it holds regardless of market direction.