Pudgy Penguins (PENGU) is 679.7× the size of Rizzmas (RIZZMAS) by market capitalisation. Their daily returns move loosely together (correlation 0.52 across 39 shared trading days). RIZZMAS has been the more volatile of the two, at 201% annualised against PENGU's 104%.
RIZZMASPENGU
0.52over 39 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 | RIZZMAS | PENGU |
|---|---|---|
| Max drawdown (400d) | -48.1% | -82.4% |
| Risk-adjusted return (90d) | -0.10 | 0.13 |
| Best 30 days (past year) | — | +74.9% |
| Worst 30 days (past year) | — | -55.1% |
Relative strength over 90 days: PENGU outperformed RIZZMAS by 2.3% — measured on the RIZZMAS/PENGU ratio, so it holds regardless of market direction.