Dogecoin (DOGE) is 3433828.6× the size of ELON VS ALTMAN (EVA) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 80 shared trading days). EVA has been the more volatile of the two, at 315% annualised against DOGE's 70%.
EVADOGE
0.23over 80 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 | EVA | DOGE |
|---|---|---|
| Max drawdown (400d) | -99.8% | -74.0% |
| Risk-adjusted return (90d) | -0.32 | 0.17 |
| Best 30 days (past year) | — | +34.3% |
| Worst 30 days (past year) | — | -41.2% |
Relative strength over 90 days: DOGE outperformed EVA by 99.7% — measured on the EVA/DOGE ratio, so it holds regardless of market direction.