SPX6900 (SPX) is 9.2× the size of Mog Coin (MOG) by market capitalisation. Over the past 30 days, MOG is ahead by 11.6 percentage points (MOG -12.7% against SPX -24.3%). Their daily returns move barely together (correlation 0.25 across 48 shared trading days). Both have run at a similar volatility, around 109% annualised.
MOGSPX
0.25over 48 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 | MOG | SPX |
|---|---|---|
| Max drawdown (400d) | -28.9% | -42.9% |
| Risk-adjusted return (90d) | -0.19 | 0.14 |
Relative strength over 90 days: SPX outperformed MOG by 4.7% — measured on the MOG/SPX ratio, so it holds regardless of market direction.