Baby Doge Coin (BABYDOGE) is 4159.2× the size of TheSpaceShibaInu (ASTROID) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.03 across 21 shared trading days). ASTROID has been the more volatile of the two, at 134% annualised against BABYDOGE's 51%.
ASTROIDBABYDOGE
-0.03over 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 | ASTROID | BABYDOGE |
|---|---|---|
| Max drawdown (400d) | -28.4% | -17.6% |
| Risk-adjusted return (90d) | -0.18 | -0.35 |
Relative strength over 90 days: ASTROID outperformed BABYDOGE by 16.8% — measured on the ASTROID/BABYDOGE ratio, so it holds regardless of market direction.