SPX6900 (SPX) is 405.7× the size of LOCK IN (LOCKIN) by market capitalisation. Over the past 30 days, SPX is ahead by 7.0 percentage points (LOCKIN -31.3% against SPX -24.3%). Their daily returns move barely together (correlation 0.27 across 28 shared trading days). Both have run at a similar volatility, around 118% annualised.
LOCKINSPX
0.27over 28 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 | LOCKIN | SPX |
|---|---|---|
| Max drawdown (400d) | -45.9% | -42.9% |
| Risk-adjusted return (90d) | -0.35 | 0.14 |
Relative strength over 90 days: SPX outperformed LOCKIN by 14.8% — measured on the LOCKIN/SPX ratio, so it holds regardless of market direction.