Dogecoin (DOGE) is 1.4× the size of Chainlink (LINK) by market capitalisation. Over the past 1 year, LINK is ahead by 27.4 percentage points (DOGE -55.1% against LINK -27.7%). Their daily returns move closely together (correlation 0.84 across 399 shared trading days). Both have run at a similar volatility, around 71% annualised.
DOGELINK
0.84over 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 | LINK |
|---|---|---|
| Max drawdown (400d) | -74.0% | -69.2% |
| Risk-adjusted return (90d) | 0.11 | 0.47 |
| Best 30 days (past year) | +34.3% | +61.6% |
| Worst 30 days (past year) | -41.2% | -43.6% |
Relative strength over 90 days: LINK outperformed DOGE by 20.5% — measured on the DOGE/LINK ratio, so it holds regardless of market direction.