Dog (Bitcoin) (DOG) is 1.5× the size of Baby Doge Coin (BABYDOGE) by market capitalisation. Their daily returns move closely together (correlation 0.70 across 21 shared trading days). DOG has been the more volatile of the two, at 148% annualised against BABYDOGE's 48%.
BABYDOGEDOG
0.70over 21 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 | BABYDOGE | DOG |
|---|---|---|
| Max drawdown (400d) | -15.5% | -45.1% |
| Risk-adjusted return (90d) | -0.27 | 0.32 |
Relative strength over 90 days: DOG outperformed BABYDOGE by 7.0% — measured on the BABYDOGE/DOG ratio, so it holds regardless of market direction.