Cookie DAO (COOKIE) is 439.6× the size of Retail DAO (RETAIL) by market capitalisation. Their daily returns move barely together (correlation 0.19 across 182 shared trading days). RETAIL has been the more volatile of the two, at 135% annualised against COOKIE's 117%.
RETAILCOOKIE
0.19over 182 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 | RETAIL | COOKIE |
|---|---|---|
| Max drawdown (400d) | -96.5% | -94.4% |
| Risk-adjusted return (90d) | -0.54 | -0.12 |
| Best 30 days (past year) | — | +69.3% |
| Worst 30 days (past year) | — | -61.7% |
Relative strength over 90 days: COOKIE outperformed RETAIL by 86.7% — measured on the RETAIL/COOKIE ratio, so it holds regardless of market direction.