ApeCoin (APE) is 151.2× the size of Guild of Guardians (GOG) by market capitalisation. Over the past 1 year, APE is ahead by 18.1 percentage points (GOG -87.9% against APE -69.8%). Their daily returns move barely together (correlation 0.23 across 373 shared trading days). APE has been the more volatile of the two, at 117% annualised against GOG's 92%.
GOGAPE
0.23over 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 | GOG | APE |
|---|---|---|
| Max drawdown (400d) | -88.8% | -85.7% |
| Risk-adjusted return (90d) | -0.76 | -0.24 |
| Best 30 days (past year) | +40.1% | +113.9% |
| Worst 30 days (past year) | -59.3% | -47.6% |
Relative strength over 90 days: APE outperformed GOG by 40.1% — measured on the GOG/APE ratio, so it holds regardless of market direction.