Osaka Protocol vs SPX6900

SPX6900 (SPX) is 28.5× the size of Osaka Protocol (OSAK) by market capitalisation. Over the past 30 days, OSAK is ahead by 6.4 percentage points (OSAK -17.9% against SPX -24.3%). Their daily returns move loosely together (correlation 0.56 across 32 shared trading days). SPX has been the more volatile of the two, at 113% annualised against OSAK's 35%.

Correlation: 0.56
Size ratio: 1 : 28.5
Ahead over 30 days: OSAK

Osaka ProtocolOSAK

$1.582e-8

24h: +0.39%
Market cap: $12.05M
Volume 24h: $58,496
Volatility (ann.): 35%

SPX6900SPX

$0.369176

24h: +3.41%
Market cap: $343.70M
Volume 24h: $8.22M
Volatility (ann.): 113%

OSAK 3.4%Share of the two combined market caps96.6% SPX

Performance

OSAKSPX

7 days-8.27%-3.77%SPX
30 days-17.90%-24.31%OSAK

Correlation

0.56over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5790d: 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	OSAK	SPX
Max drawdown (400d)	-19.6%	-42.9%
Risk-adjusted return (90d)	-0.51	0.14

Relative strength over 90 days: OSAK outperformed SPX by 15.6% — measured on the OSAK/SPX ratio, so it holds regardless of market direction.

Osaka Protocol →SPX6900 →