Non-Playable Coin (NPC) is 3423.9× the size of Based SPX6900 (SPX6900) by market capitalisation. Their daily returns move loosely together (correlation 0.47 across 32 shared trading days). NPC has been the more volatile of the two, at 162% annualised against SPX6900's 106%.
SPX6900NPC
0.47over 32 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 | SPX6900 | NPC |
|---|---|---|
| Max drawdown (400d) | -72.7% | -34.4% |
| Risk-adjusted return (90d) | -0.23 | 1.52 |
Relative strength over 90 days: NPC outperformed SPX6900 by 71.3% — measured on the SPX6900/NPC ratio, so it holds regardless of market direction.