Bonk (BONK) is 1562.4× the size of Dog Collar (COLLAR) by market capitalisation. Their daily returns move closely together (correlation 0.62 across 123 shared trading days). Both have run at a similar volatility, around 103% annualised.
COLLARBONK
0.62over 123 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 | COLLAR | BONK |
|---|---|---|
| Max drawdown (400d) | -71.8% | -89.7% |
| Risk-adjusted return (90d) | -0.30 | 0.14 |
| Best 30 days (past year) | — | +37.0% |
| Worst 30 days (past year) | — | -51.0% |
Relative strength over 90 days: COLLAR outperformed BONK by 77.8% — measured on the COLLAR/BONK ratio, so it holds regardless of market direction.