Pepe (PEPE) is 7379.7× the size of Token6900 (T6900) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.13 across 35 shared trading days). PEPE has been the more volatile of the two, at 102% annualised against T6900's 79%.
T6900PEPE
-0.13over 35 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 | T6900 | PEPE |
|---|---|---|
| Max drawdown (400d) | -31.2% | -77.2% |
| Risk-adjusted return (90d) | -0.27 | 0.71 |
| Best 30 days (past year) | — | +63.5% |
| Worst 30 days (past year) | — | -48.9% |
Relative strength over 90 days: PEPE outperformed T6900 by 30.0% — measured on the T6900/PEPE ratio, so it holds regardless of market direction.