Baby Doge Coin (BABYDOGE) is 5689.7× the size of Official Tesla Dog (SPARKY) by market capitalisation. Their daily returns move loosely together (correlation 0.52 across 22 shared trading days). SPARKY has been the more volatile of the two, at 150% annualised against BABYDOGE's 51%.
SPARKYBABYDOGE
0.52over 22 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 | SPARKY | BABYDOGE |
|---|---|---|
| Max drawdown (400d) | -51.4% | -17.6% |
| Risk-adjusted return (90d) | -0.21 | -0.35 |
Relative strength over 90 days: BABYDOGE outperformed SPARKY by 14.7% — measured on the SPARKY/BABYDOGE ratio, so it holds regardless of market direction.