Based USA vs SPX6900

SPX6900 (SPX) is 8131.4× the size of Based USA (USA) by market capitalisation. Over the past 30 days, USA is ahead by 9.9 percentage points (USA -12.6% against SPX -22.5%). Their daily returns move barely in opposite directions (correlation -0.00 across 24 shared trading days). SPX has been the more volatile of the two, at 112% annualised against USA's 59%.

Correlation: -0.00
Size ratio: 1 : 8131.4
Ahead over 30 days: USA

Based USAUSA

$3.928e-5

24h: +7.15%
Market cap: $39,291
Volume 24h: $47
Volatility (ann.): 59%

SPX6900SPX

$0.343205

24h: -10.15%
Market cap: $319.49M
Volume 24h: $7.82M
Volatility (ann.): 112%

USA 0.0%Share of the two combined market caps100.0% SPX

Performance

USASPX

7 days+2.19%-5.36%USA
30 days-12.56%-22.50%USA

Correlation

-0.00over 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	USA	SPX
Max drawdown (400d)	-28.3%	-42.9%
Risk-adjusted return (90d)	-0.34	0.16

Relative strength over 90 days: SPX outperformed USA by 11.5% — measured on the USA/SPX ratio, so it holds regardless of market direction.

Based USA →SPX6900 →