Dogecoin (DOGE) is 216135.6× the size of memes will continue (MEMES) by market capitalisation. Their daily returns move closely together (correlation 0.64 across 38 shared trading days). MEMES has been the more volatile of the two, at 293% annualised against DOGE's 70%.
MEMESDOGE
0.64over 38 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 | MEMES | DOGE |
|---|---|---|
| Max drawdown (400d) | -92.1% | -74.0% |
| Risk-adjusted return (90d) | -0.31 | 0.11 |
| Best 30 days (past year) | — | +34.3% |
| Worst 30 days (past year) | — | -41.2% |
Relative strength over 90 days: DOGE outperformed MEMES by 89.3% — measured on the MEMES/DOGE ratio, so it holds regardless of market direction.