ApeCoin (APE) is 8.8× the size of Doodles (DOOD) by market capitalisation. Over the past 1 year, APE is ahead by 13.3 percentage points (DOOD -83.1% against APE -69.8%). Their daily returns move barely together (correlation 0.32 across 373 shared trading days). Both have run at a similar volatility, around 121% annualised.
DOODAPE
0.32over 373 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 | DOOD | APE |
|---|---|---|
| Max drawdown (400d) | -90.6% | -85.7% |
| Risk-adjusted return (90d) | 0.14 | -0.24 |
| Best 30 days (past year) | +63.4% | +113.9% |
| Worst 30 days (past year) | -58.7% | -47.6% |
Relative strength over 90 days: DOOD outperformed APE by 66.3% — measured on the DOOD/APE ratio, so it holds regardless of market direction.