Unibase (UB) is 2.3× the size of DoubleZero (2Z) by market capitalisation. Their daily returns move loosely together (correlation 0.43 across 59 shared trading days). Both have run at a similar volatility, around 100% annualised.
2ZUB
0.43over 59 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 | 2Z | UB |
|---|---|---|
| Max drawdown (400d) | -96.1% | -31.0% |
| Risk-adjusted return (90d) | -0.58 | -0.05 |
| Best 30 days (past year) | +35.8% | — |
| Worst 30 days (past year) | -61.3% | — |
Relative strength over 90 days: UB outperformed 2Z by 49.1% — measured on the 2Z/UB ratio, so it holds regardless of market direction.