dogwifhat (WIF) is 9192.9× the size of Holy Coin (HOLY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.25 across 34 shared trading days). HOLY has been the more volatile of the two, at 122% annualised against WIF's 104%.
HOLYWIF
-0.25over 34 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 | HOLY | WIF |
|---|---|---|
| Max drawdown (400d) | -76.9% | -83.1% |
| Risk-adjusted return (90d) | -0.62 | 0.21 |
| Best 30 days (past year) | — | +57.5% |
| Worst 30 days (past year) | — | -50.5% |
Relative strength over 90 days: WIF outperformed HOLY by 65.9% — measured on the HOLY/WIF ratio, so it holds regardless of market direction.