Baby Doge Coin (BABYDOGE) is 2267.5× the size of Heidrun (HEIDRUN) by market capitalisation. Their daily returns move loosely together (correlation 0.56 across 22 shared trading days). HEIDRUN has been the more volatile of the two, at 324% annualised against BABYDOGE's 51%.
HEIDRUNBABYDOGE
0.56over 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 | HEIDRUN | BABYDOGE |
|---|---|---|
| Max drawdown (400d) | -70.6% | -17.6% |
| Risk-adjusted return (90d) | -0.09 | -0.35 |
Relative strength over 90 days: HEIDRUN outperformed BABYDOGE by 4.1% — measured on the HEIDRUN/BABYDOGE ratio, so it holds regardless of market direction.