TokenPocket Token vs Backpack

Backpack (BP) is 5.0× the size of TokenPocket Token (TPT) by market capitalisation. Over the past 30 days, BP is ahead by 59.9 percentage points (TPT +6.6% against BP +66.5%). Their daily returns move closely together (correlation 0.79 across 37 shared trading days). BP has been the more volatile of the two, at 504% annualised against TPT's 60%.

Correlation: 0.79
Size ratio: 1 : 5.0
Ahead over 30 days: BP

TokenPocket TokenTPT

$0.008547

24h: +0.90%
Market cap: $50.42M
Volume 24h: $6,861
Volatility (ann.): 60%

BackpackBP

$1.0010

24h: +11.99%
Market cap: $250.36M
Volume 24h: $6.75M
Volatility (ann.): 504%

TPT 16.8%Share of the two combined market caps83.2% BP

Performance

TPTBP

7 days-1.99%-5.55%TPT
30 days+6.57%+66.51%BP

Correlation

0.79over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8190d: 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	TPT	BP
Max drawdown (400d)	-21.8%	-35.1%
Risk-adjusted return (90d)	-0.03	0.27

Relative strength over 90 days: BP outperformed TPT by 52.7% — measured on the TPT/BP ratio, so it holds regardless of market direction.

TokenPocket Token →Backpack →