Abyssal (ABYS) and UBI (UBI) compared side by side. Their daily returns move barely in opposite directions (correlation -0.10 across 20 shared trading days). UBI has been the more volatile of the two, at 324% annualised against ABYS's 125%.
ABYSUBI
-0.10over 20 shared trading days
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.
| Metric | ABYS | UBI |
|---|---|---|
| Max drawdown (400d) | -46.0% | -81.0% |
| Risk-adjusted return (90d) | — | -0.23 |
Relative strength over 90 days: ABYS outperformed UBI by 184.4% — measured on the ABYS/UBI ratio, so it holds regardless of market direction.