Dogecoin (DOGE) is 8435.5× the size of wagie wojaks (WAGIE) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.14 across 34 shared trading days). WAGIE has been the more volatile of the two, at 290% annualised against DOGE's 70%.
WAGIEDOGE
-0.14over 34 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 | WAGIE | DOGE |
|---|---|---|
| Max drawdown (400d) | -74.0% | -74.0% |
| Risk-adjusted return (90d) | -0.22 | 0.11 |
| Best 30 days (past year) | — | +34.3% |
| Worst 30 days (past year) | — | -41.2% |
Relative strength over 90 days: DOGE outperformed WAGIE by 54.6% — measured on the WAGIE/DOGE ratio, so it holds regardless of market direction.