Dogecoin (DOGE) is 5.5× the size of Pepe (PEPE) by market capitalisation. Over the past 1 year, PEPE is ahead by 40.2 percentage points (PEPE -14.9% against DOGE -55.1%). Their daily returns move very closely together (correlation 0.88 across 399 shared trading days). PEPE has been the more volatile of the two, at 102% annualised against DOGE's 70%.
PEPEDOGE
0.88over 399 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 | PEPE | DOGE |
|---|---|---|
| Max drawdown (400d) | -77.2% | -74.0% |
| Risk-adjusted return (90d) | 0.63 | 0.11 |
| Best 30 days (past year) | +63.5% | +34.3% |
| Worst 30 days (past year) | -48.9% | -41.2% |
Relative strength over 90 days: PEPE outperformed DOGE by 57.5% — measured on the PEPE/DOGE ratio, so it holds regardless of market direction.