catwifhat ($CWIF) is 1945.7× the size of Revshare (REVS) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.48 across 40 shared trading days). REVS has been the more volatile of the two, at 1311% annualised against $CWIF's 126%.
REVS$CWIF
-0.48over 40 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 | REVS | $CWIF |
|---|---|---|
| Max drawdown (400d) | -98.5% | -49.5% |
| Risk-adjusted return (90d) | -0.01 | -0.39 |
Relative strength over 90 days: REVS outperformed $CWIF by 27.4% — measured on the REVS/$CWIF ratio, so it holds regardless of market direction.