BUBU vs SPX6900

SPX6900 (SPX) is 94270.7× the size of BUBU (BUBU) by market capitalisation. Over the past 30 days, BUBU is ahead by 7.4 percentage points (BUBU -15.1% against SPX -22.5%). Their daily returns move barely in opposite directions (correlation -0.08 across 23 shared trading days). Both have run at a similar volatility, around 111% annualised.

Correlation: -0.08
Size ratio: 1 : 94270.7
Ahead over 30 days: BUBU

BUBUBUBU

$3.790e-6

24h: —
Market cap: $3,786
Volume 24h: —
Volatility (ann.): 110%

SPX6900SPX

$0.383311

24h: +6.86%
Market cap: $356.90M
Volume 24h: $8.33M
Volatility (ann.): 112%

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

Performance

BUBUSPX

7 days-2.23%-5.36%BUBU
30 days-15.09%-22.50%BUBU

Correlation

-0.08over 23 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	BUBU	SPX
Max drawdown (400d)	-26.4%	-42.9%
Risk-adjusted return (90d)	-0.14	0.16

Relative strength over 90 days: SPX outperformed BUBU by 14.9% — measured on the BUBU/SPX ratio, so it holds regardless of market direction.

BUBU →SPX6900 →