Dogs (DOGS) is 62.0× the size of Make TON Great Again (MTONGA) by market capitalisation. Their daily returns move barely together (correlation 0.31 across 39 shared trading days). Both have run at a similar volatility, around 128% annualised.
MTONGADOGS
0.31over 39 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 | MTONGA | DOGS |
|---|---|---|
| Max drawdown (400d) | -26.0% | -80.2% |
| Risk-adjusted return (90d) | 0.05 | -0.12 |
| Best 30 days (past year) | — | +210.1% |
| Worst 30 days (past year) | — | -54.4% |
Relative strength over 90 days: MTONGA outperformed DOGS by 38.2% — measured on the MTONGA/DOGS ratio, so it holds regardless of market direction.