Liquid Solana Derivative vs SPX6900

SPX6900 (SPX) is 7553.4× the size of Liquid Solana Derivative (LSD) by market capitalisation. Over the past 30 days, SPX is ahead by 4.9 percentage points (LSD -27.4% against SPX -22.5%). Their daily returns move barely in opposite directions (correlation -0.04 across 23 shared trading days). SPX has been the more volatile of the two, at 112% annualised against LSD's 58%.

Correlation: -0.04
Size ratio: 1 : 7553.4
Ahead over 30 days: SPX

Liquid Solana DerivativeLSD

$0.000101

24h: —
Market cap: $42,298
Volume 24h: $13
Volatility (ann.): 58%

SPX6900SPX

$0.343205

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

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

Performance

LSDSPX

7 days-9.06%-5.36%SPX
30 days-27.41%-22.50%SPX

Correlation

-0.04over 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	LSD	SPX
Max drawdown (400d)	-27.4%	-42.9%
Risk-adjusted return (90d)	-0.39	0.16

Relative strength over 90 days: SPX outperformed LSD by 23.6% — measured on the LSD/SPX ratio, so it holds regardless of market direction.

Liquid Solana Derivative →SPX6900 →