Kaspa (KAS) is 238.0× the size of HashPack (PACK) by market capitalisation. Over the past 30 days, PACK is ahead by 79.5 percentage points (PACK +73.4% against KAS -6.0%). Their daily returns move loosely together (correlation 0.47 across 21 shared trading days). Both have run at a similar volatility, around 111% annualised.
PACKKAS
0.47over 21 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 | PACK | KAS |
|---|---|---|
| Max drawdown (400d) | -9.8% | -34.1% |
| Risk-adjusted return (90d) | 0.63 | 0.21 |
Relative strength over 90 days: PACK outperformed KAS by 8.1% — measured on the PACK/KAS ratio, so it holds regardless of market direction.