Dogecoin (DOGE) is 50221.6× the size of PIKA to PIKO ピカとピコ (PIKA) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.33 across 20 shared trading days). PIKA has been the more volatile of the two, at 246% annualised against DOGE's 70%.
PIKADOGE
-0.33over 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 | PIKA | DOGE |
|---|---|---|
| Max drawdown (400d) | -42.6% | -74.0% |
| Risk-adjusted return (90d) | — | 0.17 |
| Best 30 days (past year) | — | +34.3% |
| Worst 30 days (past year) | — | -41.2% |
Relative strength over 90 days: DOGE outperformed PIKA by 10.1% — measured on the PIKA/DOGE ratio, so it holds regardless of market direction.