MemeCore (M) is 51.4× the size of Popcat (POPCAT) by market capitalisation. Over the past 30 days, POPCAT is ahead by 1.9 percentage points (POPCAT -23.5% against M -25.3%). Their daily returns move barely together (correlation 0.29 across 52 shared trading days). Both have run at a similar volatility, around 105% annualised.
POPCATM
0.29over 52 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 | POPCAT | M |
|---|---|---|
| Max drawdown (400d) | -39.5% | -41.1% |
| Risk-adjusted return (90d) | -0.21 | -0.27 |
Relative strength over 90 days: POPCAT outperformed M by 12.4% — measured on the POPCAT/M ratio, so it holds regardless of market direction.