Based Coin vs SPX6900

SPX6900 (SPX) is 1706.8× the size of Based Coin (BASED) by market capitalisation. Over the past 30 days, BASED is ahead by 15.2 percentage points (BASED -7.3% against SPX -22.5%). Their daily returns move barely together (correlation 0.01 across 24 shared trading days). BASED has been the more volatile of the two, at 164% annualised against SPX's 112%.

Correlation: 0.01
Size ratio: 1 : 1706.8
Ahead over 30 days: BASED

Based CoinBASED

$3.430e-6

24h: +5.07%
Market cap: $207,007
Volume 24h: $120
Volatility (ann.): 164%

SPX6900SPX

$0.379505

24h: +1.48%
Market cap: $353.31M
Volume 24h: $7.71M
Volatility (ann.): 112%

BASED 0.1%Share of the two combined market caps99.9% SPX

Performance

BASEDSPX

7 days-30.67%-5.36%SPX
30 days-7.28%-22.50%BASED

Correlation

0.01over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	BASED	SPX
Max drawdown (400d)	-39.5%	-42.9%
Risk-adjusted return (90d)	0.01	0.16

Relative strength over 90 days: SPX outperformed BASED by 13.0% — measured on the BASED/SPX ratio, so it holds regardless of market direction.

Based Coin →SPX6900 →