AntFun vs Backpack

Backpack (BP) is 6.1× the size of AntFun (ANTFUN) by market capitalisation. Over the past 30 days, BP is ahead by 142.8 percentage points (ANTFUN -76.3% against BP +66.5%). Their daily returns move very closely in opposite directions (correlation -0.88 across 53 shared trading days). BP has been the more volatile of the two, at 504% annualised against ANTFUN's 266%.

Correlation: -0.88
Size ratio: 1 : 6.1
Ahead over 30 days: BP

AntFunANTFUN

$0.019328

24h: +0.12%
Market cap: $36.22M
Volume 24h: $5.48M
Volatility (ann.): 266%

BackpackBP

$0.877645

24h: +0.62%
Market cap: $219.41M
Volume 24h: $4.54M
Volatility (ann.): 504%

ANTFUN 14.2%Share of the two combined market caps85.8% BP

Performance

ANTFUNBP

7 days+13.93%-5.55%ANTFUN
30 days-76.26%+66.51%BP

Correlation

-0.88over 53 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.9190d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	ANTFUN	BP
Max drawdown (400d)	-90.6%	-35.1%
Risk-adjusted return (90d)	-0.20	0.27

Relative strength over 90 days: BP outperformed ANTFUN by 80.7% — measured on the ANTFUN/BP ratio, so it holds regardless of market direction.

AntFun →Backpack →