Cash Cat (CASHCAT) is 14712.2× the size of SUMI (SUMI) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.07 across 24 shared trading days). CASHCAT has been the more volatile of the two, at 261% annualised against SUMI's 88%.
SUMICASHCAT
-0.07over 24 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 | SUMI | CASHCAT |
|---|---|---|
| Max drawdown (400d) | -73.6% | -69.6% |
| Risk-adjusted return (90d) | -0.36 | -0.03 |
Relative strength over 90 days: SUMI outperformed CASHCAT by 48.3% — measured on the SUMI/CASHCAT ratio, so it holds regardless of market direction.