Dogecoin (DOGE) is 66804.7× the size of 熊猫头 (Panda Head) (熊猫头) by market capitalisation. Their daily returns move loosely together (correlation 0.45 across 38 shared trading days). 熊猫头 has been the more volatile of the two, at 839% annualised against DOGE's 70%.
熊猫头DOGE
0.45over 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 | 熊猫头 | DOGE |
|---|---|---|
| Max drawdown (400d) | -87.6% | -74.0% |
| Risk-adjusted return (90d) | -0.06 | 0.11 |
| Best 30 days (past year) | — | +34.3% |
| Worst 30 days (past year) | — | -41.2% |
Relative strength over 90 days: DOGE outperformed 熊猫头 by 44.9% — measured on the 熊猫头/DOGE ratio, so it holds regardless of market direction.