Mt Pelerin Shares vs Backpack

Backpack (BP) is 86.9× the size of Mt Pelerin Shares (MPS) by market capitalisation. Over the past 30 days, BP is ahead by 70.2 percentage points (MPS -3.7% against BP +66.5%). Their daily returns move barely in opposite directions (correlation -0.16 across 31 shared trading days). BP has been the more volatile of the two, at 504% annualised against MPS's 237%.

Correlation: -0.16
Size ratio: 1 : 86.9
Ahead over 30 days: BP

Mt Pelerin SharesMPS

$5.2000

24h: -6.89%
Market cap: $2.60M
Volume 24h: $156
Volatility (ann.): 237%

BackpackBP

$0.902785

24h: +3.45%
Market cap: $225.70M
Volume 24h: $4.92M
Volatility (ann.): 504%

MPS 1.1%Share of the two combined market caps98.9% BP

Performance

MPSBP

7 days+7.58%-5.55%MPS
30 days-3.73%+66.51%BP

Correlation

-0.16over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1690d: 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	MPS	BP
Max drawdown (400d)	-42.3%	-35.1%
Risk-adjusted return (90d)	0.06	0.27

Relative strength over 90 days: BP outperformed MPS by 48.8% — measured on the MPS/BP ratio, so it holds regardless of market direction.

Mt Pelerin Shares →Backpack →