Pepe (PEPE) is 262208.9× the size of Telepath8 (P8BCI) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.22 across 22 shared trading days). P8BCI has been the more volatile of the two, at 472% annualised against PEPE's 102%.
P8BCIPEPE
-0.22over 22 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 | P8BCI | PEPE |
|---|---|---|
| Max drawdown (400d) | -52.6% | -77.2% |
| Risk-adjusted return (90d) | 0.00 | 0.71 |
| Best 30 days (past year) | — | +63.5% |
| Worst 30 days (past year) | — | -48.9% |
Relative strength over 90 days: PEPE outperformed P8BCI by 7.4% — measured on the P8BCI/PEPE ratio, so it holds regardless of market direction.