MemeCore (M) is 279530.6× the size of Punchy Puff (PUNCHY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.33 across 26 shared trading days). PUNCHY has been the more volatile of the two, at 156% annualised against M's 107%.
PUNCHYM
-0.33over 26 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 | PUNCHY | M |
|---|---|---|
| Max drawdown (400d) | -94.7% | -41.1% |
| Risk-adjusted return (90d) | -0.50 | -0.27 |
Relative strength over 90 days: M outperformed PUNCHY by 74.0% — measured on the PUNCHY/M ratio, so it holds regardless of market direction.