Pudgy Penguins (PENGU) is 333.1× the size of The Official 67 Coin (67) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 39 shared trading days). 67 has been the more volatile of the two, at 257% annualised against PENGU's 104%.
67PENGU
0.24over 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 | 67 | PENGU |
|---|---|---|
| Max drawdown (400d) | -42.8% | -82.4% |
| Risk-adjusted return (90d) | -0.04 | 0.13 |
| Best 30 days (past year) | — | +74.9% |
| Worst 30 days (past year) | — | -55.1% |
Relative strength over 90 days: 67 outperformed PENGU by 11.6% — measured on the 67/PENGU ratio, so it holds regardless of market direction.