Shiba Inu (SHIB) is 276711.9× the size of Timeless Davido (DAVIDO) by market capitalisation. Their daily returns move barely together (correlation 0.12 across 28 shared trading days). SHIB has been the more volatile of the two, at 69% annualised against DAVIDO's 59%.
DAVIDOSHIB
0.12over 28 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 | DAVIDO | SHIB |
|---|---|---|
| Max drawdown (400d) | -22.5% | -68.0% |
| Risk-adjusted return (90d) | -0.35 | 0.01 |
| Best 30 days (past year) | — | +39.1% |
| Worst 30 days (past year) | — | -38.4% |
Relative strength over 90 days: SHIB outperformed DAVIDO by 0.9% — measured on the DAVIDO/SHIB ratio, so it holds regardless of market direction.