Pudgy Penguins (PENGU) is 49.0× the size of PONKE (PONKE) by market capitalisation. Over the past 1 year, PENGU is ahead by 19.1 percentage points (PONKE -73.2% against PENGU -54.1%). Their daily returns move loosely together (correlation 0.57 across 364 shared trading days). PONKE has been the more volatile of the two, at 152% annualised against PENGU's 104%.
PONKEPENGU
0.57over 364 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 | PONKE | PENGU |
|---|---|---|
| Max drawdown (400d) | -84.8% | -82.4% |
| Risk-adjusted return (90d) | 0.04 | 0.13 |
| Best 30 days (past year) | — | +74.9% |
| Worst 30 days (past year) | — | -55.1% |
Relative strength over 90 days: PENGU outperformed PONKE by 35.0% — measured on the PONKE/PENGU ratio, so it holds regardless of market direction.