What IF vs Degen

Degen (DEGEN) is 99.4× the size of What IF (IF) by market capitalisation. Over the past 30 days, DEGEN is ahead by 78.5 percentage points (IF -96.3% against DEGEN -17.8%). Their daily returns move barely in opposite directions (correlation -0.03 across 38 shared trading days). IF has been the more volatile of the two, at 455% annualised against DEGEN's 78%.

Correlation: -0.03
Size ratio: 1 : 99.4
Ahead over 30 days: DEGEN

What IFIF

$0.000349

24h: +6.63%
Market cap: $310,612
Volume 24h: $3,718
Volatility (ann.): 455%

DegenDEGEN

$0.000860

24h: +1.20%
Market cap: $30.89M
Volume 24h: $2.99M
Volatility (ann.): 78%

IF 1.0%Share of the two combined market caps99.0% DEGEN

Performance

IFDEGEN

7 days+25.34%-7.09%IF
30 days-96.31%-17.76%DEGEN

Correlation

-0.03over 38 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3190d: 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	IF	DEGEN
Max drawdown (400d)	-98.3%	-26.2%
Risk-adjusted return (90d)	-0.21	-0.22

Relative strength over 90 days: DEGEN outperformed IF by 94.7% — measured on the IF/DEGEN ratio, so it holds regardless of market direction.

What IF →Degen →