Unibase (UB) is 48.3× the size of FlameWire (SN97) by market capitalisation. Over the past 30 days, UB is ahead by 0.6 percentage points (SN97 -12.5% against UB -11.9%). Their daily returns move loosely together (correlation 0.54 across 22 shared trading days). Both have run at a similar volatility, around 107% annualised.
SN97UB
0.54over 22 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 | SN97 | UB |
|---|---|---|
| Max drawdown (400d) | -30.1% | -31.0% |
| Risk-adjusted return (90d) | -0.11 | -0.09 |
Relative strength over 90 days: UB outperformed SN97 by 19.2% — measured on the SN97/UB ratio, so it holds regardless of market direction.