Public Masterpiece Technology (PMT) is 86.4× the size of Punk Auction (PAST) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.03 across 189 shared trading days). PAST has been the more volatile of the two, at 922% annualised against PMT's 7%.
$0.096932
PASTPMT
-0.03over 189 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 | PAST | PMT |
|---|---|---|
| Max drawdown (400d) | -91.7% | -14.9% |
| Risk-adjusted return (90d) | -0.02 | -0.89 |
| Best 30 days (past year) | — | +3.2% |
| Worst 30 days (past year) | — | -3.9% |
Relative strength over 90 days: PAST outperformed PMT by 18.8% — measured on the PAST/PMT ratio, so it holds regardless of market direction.