Dogs (DOGS) is 1257.7× the size of MMM (MMM) by market capitalisation. Their daily returns move loosely together (correlation 0.59 across 146 shared trading days). Both have run at a similar volatility, around 137% annualised.
MMMDOGS
0.59over 146 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 | MMM | DOGS |
|---|---|---|
| Max drawdown (400d) | -57.9% | -80.2% |
| Risk-adjusted return (90d) | -0.10 | -0.20 |
| Best 30 days (past year) | — | +210.1% |
| Worst 30 days (past year) | — | -54.4% |
Relative strength over 90 days: DOGS outperformed MMM by 18.1% — measured on the MMM/DOGS ratio, so it holds regardless of market direction.