Melania Meme (MELANIA) is 1365.3× the size of The America Party (TAP) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 24 shared trading days). TAP has been the more volatile of the two, at 131% annualised against MELANIA's 113%.
TAPMELANIA
0.24over 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 | TAP | MELANIA |
|---|---|---|
| Max drawdown (400d) | -60.5% | -47.4% |
| Risk-adjusted return (90d) | -0.13 | -0.12 |
Relative strength over 90 days: TAP outperformed MELANIA by 14.8% — measured on the TAP/MELANIA ratio, so it holds regardless of market direction.