Uniswap (UNI) is 5785.2× the size of Districts (DSTRX) by market capitalisation. Their daily returns move loosely together (correlation 0.50 across 70 shared trading days). DSTRX has been the more volatile of the two, at 191% annualised against UNI's 101%.
DSTRXUNI
0.50over 70 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 | DSTRX | UNI |
|---|---|---|
| Max drawdown (400d) | -75.3% | -74.4% |
| Risk-adjusted return (90d) | -0.39 | 0.83 |
| Best 30 days (past year) | — | +143.9% |
| Worst 30 days (past year) | — | -47.8% |
Relative strength over 90 days: UNI outperformed DSTRX by 77.9% — measured on the DSTRX/UNI ratio, so it holds regardless of market direction.