Popcat (POPCAT) is 267.3× the size of RockyCat (RKC) by market capitalisation. Over the past 30 days, POPCAT is ahead by 0.6 percentage points (RKC -16.4% against POPCAT -15.8%). Their daily returns move barely together (correlation 0.03 across 20 shared trading days). Both have run at a similar volatility, around 98% annualised.
RKCPOPCAT
0.03over 20 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 | RKC | POPCAT |
|---|---|---|
| Max drawdown (400d) | -27.9% | -35.5% |
| Risk-adjusted return (90d) | -0.19 | -0.13 |
Relative strength over 90 days: RKC outperformed POPCAT by 8.1% — measured on the RKC/POPCAT ratio, so it holds regardless of market direction.