Roundhill Memory ETF (Backpack Securities) vs SP500 xStock

SP500 xStock (SPYX) is 95.6× the size of Roundhill Memory ETF (Backpack Securities) (DRAM) by market capitalisation. Over the past 30 days, SPYX is ahead by 20.7 percentage points (DRAM -21.9% against SPYX -1.1%). Their daily returns move barely together (correlation 0.26 across 31 shared trading days). DRAM has been the more volatile of the two, at 80% annualised against SPYX's 11%.

Correlation: 0.26
Size ratio: 1 : 95.6
Ahead over 30 days: SPYX

Roundhill Memory ETF (Backpack Securities)DRAM

$46.3400

24h: -1.88%
Market cap: $747,090
Volume 24h: $295,591
Volatility (ann.): 80%

SP500 xStockSPYX

$766.4600

24h: +1.35%
Market cap: $71.45M
Volume 24h: $8.24M
Volatility (ann.): 11%

DRAM 1.0%Share of the two combined market caps99.0% SPYX

Performance

DRAMSPYX

7 days-5.24%-1.60%SPYX
30 days-21.85%-1.10%SPYX

Correlation

0.26over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2690d: 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	DRAM	SPYX
Max drawdown (400d)	-26.8%	-2.7%
Risk-adjusted return (90d)	-0.20	-0.14

Relative strength over 90 days: SPYX outperformed DRAM by 15.2% — measured on the DRAM/SPYX ratio, so it holds regardless of market direction.

Roundhill Memory ETF (Backpack Securities) →SP500 xStock →