NPRO vs Backpack

Backpack (BP) is 389.3× the size of NPRO (NPRO) by market capitalisation. Over the past 30 days, BP is ahead by 83.4 percentage points (NPRO -16.9% against BP +66.5%). Their daily returns move closely together (correlation 0.80 across 29 shared trading days). BP has been the more volatile of the two, at 504% annualised against NPRO's 154%.

Correlation: 0.80
Size ratio: 1 : 389.3
Ahead over 30 days: BP

NPRONPRO

$0.262570

24h: +3.53%
Market cap: $585,200
Volume 24h: $11,200
Volatility (ann.): 154%

BackpackBP

$0.911259

24h: +4.66%
Market cap: $227.81M
Volume 24h: $4.97M
Volatility (ann.): 504%

NPRO 0.3%Share of the two combined market caps99.7% BP

Performance

NPROBP

7 days-19.04%-5.55%BP
30 days-16.93%+66.51%BP

Correlation

0.80over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8090d: 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	NPRO	BP
Max drawdown (400d)	-46.8%	-35.1%
Risk-adjusted return (90d)	-0.07	0.27

Relative strength over 90 days: BP outperformed NPRO by 59.7% — measured on the NPRO/BP ratio, so it holds regardless of market direction.

NPRO →Backpack →