USDC (USDC) is 6.0× the size of Dogecoin (DOGE) by market capitalisation. Over the past 1 year, USDC is ahead by 55.2 percentage points (USDC +0.1% against DOGE -55.1%). Their daily returns move barely in opposite directions (correlation -0.18 across 399 shared trading days). DOGE has been the more volatile of the two, at 70% annualised against USDC's 0%.
USDCDOGE
-0.18over 399 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 | USDC | DOGE |
|---|---|---|
| Max drawdown (400d) | -0.3% | -74.0% |
| Risk-adjusted return (90d) | 0.05 | 0.11 |
| Best 30 days (past year) | +0.2% | +34.3% |
| Worst 30 days (past year) | -0.2% | -41.2% |
Relative strength over 90 days: DOGE outperformed USDC by 6.9% — measured on the USDC/DOGE ratio, so it holds regardless of market direction.