Raydium Cat vs cat in a dogs world

cat in a dogs world (MEW) is 105.5× the size of Raydium Cat (RAYCAT) by market capitalisation. Over the past 30 days, MEW is ahead by 70.7 percentage points (RAYCAT -75.6% against MEW -4.9%). Their daily returns move barely together (correlation 0.03 across 28 shared trading days). RAYCAT has been the more volatile of the two, at 888% annualised against MEW's 99%.

Correlation: 0.03
Size ratio: 1 : 105.5
Ahead over 30 days: MEW

Raydium CatRAYCAT

$0.000328

24h: -1.00%
Market cap: $315,776
Volume 24h: $10,214
Volatility (ann.): 888%

cat in a dogs worldMEW

$0.000375

24h: -3.15%
Market cap: $33.32M
Volume 24h: $3.61M
Volatility (ann.): 99%

RAYCAT 0.9%Share of the two combined market caps99.1% MEW

Performance

RAYCATMEW

7 days-31.86%-11.24%MEW
30 days-75.60%-4.93%MEW

Correlation

0.03over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	RAYCAT	MEW
Max drawdown (400d)	-97.2%	-24.8%
Risk-adjusted return (90d)	-0.09	-0.09

Relative strength over 90 days: MEW outperformed RAYCAT by 80.1% — measured on the RAYCAT/MEW ratio, so it holds regardless of market direction.

Raydium Cat →cat in a dogs world →