Dog (Bitcoin) (DOG) is 8.6× the size of Bertram The Pomeranian (BERT) by market capitalisation. Their daily returns move barely together (correlation 0.34 across 45 shared trading days). Both have run at a similar volatility, around 143% annualised.
BERTDOG
0.34over 45 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 | BERT | DOG |
|---|---|---|
| Max drawdown (400d) | -49.4% | -45.1% |
| Risk-adjusted return (90d) | 0.00 | 0.23 |
Relative strength over 90 days: DOG outperformed BERT by 16.1% — measured on the BERT/DOG ratio, so it holds regardless of market direction.