Baby Doge Coin (BABYDOGE) is 71.6× the size of NinjaCat (NINJACAT) by market capitalisation. Their daily returns move loosely together (correlation 0.44 across 20 shared trading days). NINJACAT has been the more volatile of the two, at 956% annualised against BABYDOGE's 47%.
NINJACATBABYDOGE
0.44over 20 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 | NINJACAT | BABYDOGE |
|---|---|---|
| Max drawdown (400d) | -60.0% | -15.5% |
| Risk-adjusted return (90d) | 0.99 | — |
Relative strength over 90 days: BABYDOGE outperformed NINJACAT by 43.9% — measured on the NINJACAT/BABYDOGE ratio, so it holds regardless of market direction.