Dog (Bitcoin) (DOG) is 1.4× the size of Baby Doge Coin (BABYDOGE) by market capitalisation. Their daily returns move closely together (correlation 0.71 across 20 shared trading days). DOG has been the more volatile of the two, at 148% annualised against BABYDOGE's 47%.
DOGBABYDOGE
0.71over 20 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 | DOG | BABYDOGE |
|---|---|---|
| Max drawdown (400d) | -45.1% | -15.5% |
| Risk-adjusted return (90d) | 0.23 | — |
Relative strength over 90 days: BABYDOGE outperformed DOG by 0.6% — measured on the DOG/BABYDOGE ratio, so it holds regardless of market direction.