HashPack vs Backpack

Backpack (BP) is 69.0× the size of HashPack (PACK) by market capitalisation. Over the past 30 days, BP is ahead by 30.0 percentage points (PACK +73.4% against BP +103.4%). Their daily returns move closely together (correlation 0.70 across 22 shared trading days). BP has been the more volatile of the two, at 499% annualised against PACK's 117%.

Correlation: 0.70
Size ratio: 1 : 69.0
Ahead over 30 days: BP

HashPackPACK

$0.005201

24h: -0.61%
Market cap: $3.74M
Volume 24h: $21,557
Volatility (ann.): 117%

BackpackBP

$1.0320

24h: +14.48%
Market cap: $257.98M
Volume 24h: $6.33M
Volatility (ann.): 499%

PACK 1.4%Share of the two combined market caps98.6% BP

Performance

PACKBP

7 days+26.67%-0.69%PACK
30 days+73.44%+103.44%BP

Correlation

0.70over 22 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	PACK	BP
Max drawdown (400d)	-9.8%	-35.1%
Risk-adjusted return (90d)	0.63	0.32

Relative strength over 90 days: BP outperformed PACK by 43.2% — measured on the PACK/BP ratio, so it holds regardless of market direction.

HashPack →Backpack →