Baby Doge Coin (BABYDOGE) is 2280.6× the size of gugugaga (咕咕嘎嘎) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.16 across 22 shared trading days). 咕咕嘎嘎 has been the more volatile of the two, at 102% annualised against BABYDOGE's 51%.
咕咕嘎嘎BABYDOGE
-0.16over 22 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 | 咕咕嘎嘎 | BABYDOGE |
|---|---|---|
| Max drawdown (400d) | -35.3% | -17.6% |
| Risk-adjusted return (90d) | -0.31 | -0.35 |
Relative strength over 90 days: 咕咕嘎嘎 outperformed BABYDOGE by 10.5% — measured on the 咕咕嘎嘎/BABYDOGE ratio, so it holds regardless of market direction.