Dogecoin (DOGE) is 2560.7× the size of PHNIX (PHNIX) by market capitalisation. Over the past 1 year, PHNIX is ahead by 11.6 percentage points (PHNIX -43.5% against DOGE -55.1%). Their daily returns move loosely together (correlation 0.53 across 372 shared trading days). PHNIX has been the more volatile of the two, at 129% annualised against DOGE's 70%.
PHNIXDOGE
0.53over 372 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 | PHNIX | DOGE |
|---|---|---|
| Max drawdown (400d) | -73.6% | -74.0% |
| Risk-adjusted return (90d) | -0.12 | 0.11 |
| Best 30 days (past year) | +192.5% | +34.3% |
| Worst 30 days (past year) | -60.9% | -41.2% |
Relative strength over 90 days: DOGE outperformed PHNIX by 16.0% — measured on the PHNIX/DOGE ratio, so it holds regardless of market direction.