Public Masterpiece Technology (PMT) is 59.9× the size of PudgyStrategy (PUDGYSTR) by market capitalisation. Their daily returns move loosely together (correlation 0.59 across 37 shared trading days). PUDGYSTR has been the more volatile of the two, at 202% annualised against PMT's 7%.
$0.097069
PUDGYSTRPMT
0.59over 37 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 | PUDGYSTR | PMT |
|---|---|---|
| Max drawdown (400d) | -64.3% | -14.5% |
| Risk-adjusted return (90d) | -0.28 | -0.87 |
| Best 30 days (past year) | — | +3.2% |
| Worst 30 days (past year) | — | -3.9% |
Relative strength over 90 days: PMT outperformed PUDGYSTR by 56.0% — measured on the PUDGYSTR/PMT ratio, so it holds regardless of market direction.