Top Hat vs Grass

Grass (GRASS) is 6862.4× the size of Top Hat (HAT) by market capitalisation. Over the past 30 days, GRASS is ahead by 108.1 percentage points (HAT -29.9% against GRASS +78.2%). Their daily returns move barely together (correlation 0.18 across 23 shared trading days). GRASS has been the more volatile of the two, at 212% annualised against HAT's 43%.

Correlation: 0.18
Size ratio: 1 : 6862.4
Ahead over 30 days: GRASS

Top HatHAT

$5.379e-5

24h: —
Market cap: $53,243
Volume 24h: $5
Volatility (ann.): 43%

GrassGRASS

$0.506089

24h: -12.63%
Market cap: $365.38M
Volume 24h: $16.59M
Volatility (ann.): 212%

HAT 0.0%Share of the two combined market caps100.0% GRASS

Performance

HATGRASS

7 days-10.38%-15.26%HAT
30 days-29.91%+78.19%GRASS

Correlation

0.18over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	HAT	GRASS
Max drawdown (400d)	-30.9%	-25.3%
Risk-adjusted return (90d)	-0.69	0.36

Relative strength over 90 days: HAT outperformed GRASS by 1.9% — measured on the HAT/GRASS ratio, so it holds regardless of market direction.

Top Hat →Grass →