Enclave (ENCLAVE) and UBI (UBI) compared side by side. Over the past 30 days, UBI is ahead by 27.1 percentage points (ENCLAVE -92.2% against UBI -65.1%). Their daily returns move barely together (correlation 0.19 across 31 shared trading days). ENCLAVE has been the more volatile of the two, at 1142% annualised against UBI's 324%.
ENCLAVEUBI
0.19over 31 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 | ENCLAVE | UBI |
|---|---|---|
| Max drawdown (400d) | -93.5% | -81.0% |
| Risk-adjusted return (90d) | -0.08 | -0.23 |
Relative strength over 90 days: UBI outperformed ENCLAVE by 68.2% — measured on the ENCLAVE/UBI ratio, so it holds regardless of market direction.