WrappedM by M0 vs Wrapped Gonka

WrappedM by M0 (WM) is 43.6× the size of Wrapped Gonka (WGNK) by market capitalisation. Over the past 30 days, WGNK is ahead by 22.8 percentage points (WM -0.1% against WGNK +22.7%). Their daily returns move barely together (correlation 0.30 across 36 shared trading days). WGNK has been the more volatile of the two, at 167% annualised against WM's 0%.

Correlation: 0.30
Size ratio: 43.6×
Ahead over 30 days: WGNK

WrappedM by M0WM

$0.998835

24h: +0.02%
Market cap: $74.61M
Volume 24h: $127
Volatility (ann.): 0%

Wrapped GonkaWGNK

$0.157524

24h: +9.30%
Market cap: $1.71M
Volume 24h: $51,051
Volatility (ann.): 167%

WM 97.8%Share of the two combined market caps2.2% WGNK

Performance

WMWGNK

7 days+0.03%-2.37%WM
30 days-0.08%+22.71%WGNK

Correlation

0.30over 36 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3090d: 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	WM	WGNK
Max drawdown (400d)	-0.1%	-38.9%
Risk-adjusted return (90d)	-0.10	0.19

Relative strength over 90 days: WGNK outperformed WM by 24.1% — measured on the WM/WGNK ratio, so it holds regardless of market direction.

WrappedM by M0 →Wrapped Gonka →