Ape and Pepe (APEPE) is 1510.1× the size of Virgen (VIRGEN) by market capitalisation. Their daily returns move loosely together (correlation 0.42 across 37 shared trading days). VIRGEN has been the more volatile of the two, at 129% annualised against APEPE's 92%.
VIRGENAPEPE
0.42over 37 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 | VIRGEN | APEPE |
|---|---|---|
| Max drawdown (400d) | -56.0% | -24.0% |
| Risk-adjusted return (90d) | -0.17 | 0.31 |
Relative strength over 90 days: APEPE outperformed VIRGEN by 23.1% — measured on the VIRGEN/APEPE ratio, so it holds regardless of market direction.