Pudgy Penguins (PENGU) is 21065.7× the size of Yippee (TBH) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 37 shared trading days). TBH has been the more volatile of the two, at 305% annualised against PENGU's 104%.
TBHPENGU
0.41over 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 | TBH | PENGU |
|---|---|---|
| Max drawdown (400d) | -84.2% | -82.4% |
| Risk-adjusted return (90d) | -0.28 | 0.21 |
| Best 30 days (past year) | — | +74.9% |
| Worst 30 days (past year) | — | -55.1% |
Relative strength over 90 days: PENGU outperformed TBH by 81.6% — measured on the TBH/PENGU ratio, so it holds regardless of market direction.