Dogecoin (DOGE) is 1.6× the size of Cardano (ADA) by market capitalisation. Over the past 1 year, DOGE is ahead by 10.6 percentage points (DOGE -55.1% against ADA -65.6%). Their daily returns move very closely together (correlation 0.88 across 399 shared trading days). Both have run at a similar volatility, around 74% annualised.
DOGEADA
0.88over 399 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 | DOGE | ADA |
|---|---|---|
| Max drawdown (400d) | -74.0% | -83.5% |
| Risk-adjusted return (90d) | 0.11 | -0.01 |
| Best 30 days (past year) | +34.3% | +38.4% |
| Worst 30 days (past year) | -41.2% | -42.7% |
Relative strength over 90 days: DOGE outperformed ADA by 8.1% — measured on the DOGE/ADA ratio, so it holds regardless of market direction.