Bitcoin on Base vs SPX6900

SPX6900 (SPX) is 520.6× the size of Bitcoin on Base (BTCB) by market capitalisation. Over the past 30 days, SPX is ahead by 10.3 percentage points (BTCB -34.6% against SPX -24.3%). Their daily returns move barely together (correlation 0.14 across 28 shared trading days). Both have run at a similar volatility, around 112% annualised.

Correlation: 0.14
Size ratio: 1 : 520.6
Ahead over 30 days: SPX

Bitcoin on BaseBTCB

$0.042981

24h: +0.65%
Market cap: $671,400
Volume 24h: $350
Volatility (ann.): 110%

SPX6900SPX

$0.375409

24h: +6.04%
Market cap: $349.50M
Volume 24h: $8.96M
Volatility (ann.): 113%

BTCB 0.2%Share of the two combined market caps99.8% SPX

Performance

BTCBSPX

7 days-21.96%-3.77%SPX
30 days-34.61%-24.31%SPX

Correlation

0.14over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 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	BTCB	SPX
Max drawdown (400d)	-43.4%	-42.9%
Risk-adjusted return (90d)	-0.31	0.14

Relative strength over 90 days: SPX outperformed BTCB by 1.9% — measured on the BTCB/SPX ratio, so it holds regardless of market direction.

Bitcoin on Base →SPX6900 →