Dogecoin (DOGE) is 8404.4× the size of Salute (SLT) by market capitalisation. Their daily returns move very closely together (correlation 0.86 across 39 shared trading days). SLT has been the more volatile of the two, at 104% annualised against DOGE's 70%.
SLTDOGE
0.86over 39 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 | SLT | DOGE |
|---|---|---|
| Max drawdown (400d) | -31.6% | -74.0% |
| Risk-adjusted return (90d) | -0.24 | 0.11 |
| Best 30 days (past year) | — | +34.3% |
| Worst 30 days (past year) | — | -41.2% |
Relative strength over 90 days: DOGE outperformed SLT by 17.1% — measured on the SLT/DOGE ratio, so it holds regardless of market direction.