Pudgy Penguins (PENGU) is 2.6× the size of dogwifhat (WIF) by market capitalisation. Over the past 1 year, PENGU is ahead by 8.3 percentage points (PENGU -49.3% against WIF -57.6%). Their daily returns move closely together (correlation 0.82 across 399 shared trading days). Both have run at a similar volatility, around 104% annualised.
PENGUWIF
0.82over 399 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 | PENGU | WIF |
|---|---|---|
| Max drawdown (400d) | -82.4% | -83.1% |
| Risk-adjusted return (90d) | 0.21 | 0.21 |
| Best 30 days (past year) | +74.9% | +57.5% |
| Worst 30 days (past year) | -55.1% | -50.5% |
Relative strength over 90 days: WIF outperformed PENGU by 0.0% — measured on the PENGU/WIF ratio, so it holds regardless of market direction.