Uniswap (UNI) is 159.5× the size of Bancor Network (BNT) by market capitalisation. Over the past 1 year, UNI is ahead by 86.1 percentage points (BNT -47.2% against UNI +38.9%). Their daily returns move closely together (correlation 0.65 across 399 shared trading days). UNI has been the more volatile of the two, at 101% annualised against BNT's 58%.
BNTUNI
0.65over 399 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 | BNT | UNI |
|---|---|---|
| Max drawdown (400d) | -65.8% | -74.4% |
| Risk-adjusted return (90d) | 0.13 | 0.73 |
| Best 30 days (past year) | +24.8% | +143.9% |
| Worst 30 days (past year) | -41.4% | -47.8% |
Relative strength over 90 days: UNI outperformed BNT by 40.4% — measured on the BNT/UNI ratio, so it holds regardless of market direction.