Baby Doge Coin (BABYDOGE) is 7208.2× the size of The first crypto Dog (BUDDY) by market capitalisation. Their daily returns move closely together (correlation 0.61 across 21 shared trading days). Both have run at a similar volatility, around 45% annualised.
BUDDYBABYDOGE
0.61over 21 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 | BUDDY | BABYDOGE |
|---|---|---|
| Max drawdown (400d) | -26.7% | -15.5% |
| Risk-adjusted return (90d) | -0.56 | -0.27 |
Relative strength over 90 days: BABYDOGE outperformed BUDDY by 2.6% — measured on the BUDDY/BABYDOGE ratio, so it holds regardless of market direction.