Chainlink (LINK) is 1519.5× the size of Own The Doge (DOG) by market capitalisation. Their daily returns move loosely together (correlation 0.51 across 41 shared trading days). LINK has been the more volatile of the two, at 71% annualised against DOG's 51%.
DOGLINK
0.51over 41 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 | DOG | LINK |
|---|---|---|
| Max drawdown (400d) | -13.2% | -69.2% |
| Risk-adjusted return (90d) | -0.13 | 0.47 |
| Best 30 days (past year) | — | +61.6% |
| Worst 30 days (past year) | — | -43.6% |
Relative strength over 90 days: LINK outperformed DOG by 2.8% — measured on the DOG/LINK ratio, so it holds regardless of market direction.