USDS (USDS) is 101573.1× the size of Chinese Doge Wow (CHIDO) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.43 across 35 shared trading days). CHIDO has been the more volatile of the two, at 77% annualised against USDS's 1%.
CHIDOUSDS
-0.43over 35 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 | CHIDO | USDS |
|---|---|---|
| Max drawdown (400d) | -24.6% | -0.4% |
| Risk-adjusted return (90d) | -0.15 | 0.00 |
Relative strength over 90 days: USDS outperformed CHIDO by 11.6% — measured on the CHIDO/USDS ratio, so it holds regardless of market direction.