dogwifhat (WIF) is 3247.9× the size of Doge Floki Coin [OLD] (DOFI) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 32 shared trading days). WIF has been the more volatile of the two, at 104% annualised against DOFI's 31%.
DOFIWIF
0.05over 32 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 | DOFI | WIF |
|---|---|---|
| Max drawdown (400d) | -7.9% | -83.1% |
| Risk-adjusted return (90d) | -0.09 | 0.21 |
| Best 30 days (past year) | — | +57.5% |
| Worst 30 days (past year) | — | -50.5% |
Relative strength over 90 days: DOFI outperformed WIF by 42.1% — measured on the DOFI/WIF ratio, so it holds regardless of market direction.