Dogecoin (DOGE) is 627480.4× the size of 领头羊 (领头羊) by market capitalisation. Their daily returns move barely together (correlation 0.13 across 34 shared trading days). 领头羊 has been the more volatile of the two, at 147% annualised against DOGE's 70%.
领头羊DOGE
0.13over 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 | 领头羊 | DOGE |
|---|---|---|
| Max drawdown (400d) | -46.0% | -74.0% |
| Risk-adjusted return (90d) | -0.24 | 0.17 |
| Best 30 days (past year) | — | +34.3% |
| Worst 30 days (past year) | — | -41.2% |
Relative strength over 90 days: DOGE outperformed 领头羊 by 20.8% — measured on the 领头羊/DOGE ratio, so it holds regardless of market direction.