Dogecoin (DOGE) is 5994.2× the size of Central African Republic Meme (CAR) by market capitalisation. Their daily returns move closely together (correlation 0.73 across 40 shared trading days). CAR has been the more volatile of the two, at 108% annualised against DOGE's 70%.
$0.002028
CARDOGE
0.73over 40 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 | CAR | DOGE |
|---|---|---|
| Max drawdown (400d) | -38.5% | -74.0% |
| Risk-adjusted return (90d) | -0.35 | 0.11 |
| Best 30 days (past year) | — | +34.3% |
| Worst 30 days (past year) | — | -41.2% |
Relative strength over 90 days: DOGE outperformed CAR by 32.2% — measured on the CAR/DOGE ratio, so it holds regardless of market direction.