ArcPepe (ARCPEPE) and UBI (UBI) compared side by side. Their daily returns move barely together (correlation 0.08 across 24 shared trading days). UBI has been the more volatile of the two, at 324% annualised against ARCPEPE's 77%.
ARCPEPEUBI
0.08over 24 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 | ARCPEPE | UBI |
|---|---|---|
| Max drawdown (400d) | -33.3% | -81.0% |
| Risk-adjusted return (90d) | -0.43 | -0.24 |
Relative strength over 90 days: ARCPEPE outperformed UBI by 120.1% — measured on the ARCPEPE/UBI ratio, so it holds regardless of market direction.