Uniswap (UNI) is 3781.4× the size of Garden (SEED) by market capitalisation. Their daily returns move loosely together (correlation 0.44 across 159 shared trading days). SEED has been the more volatile of the two, at 135% annualised against UNI's 101%.
SEEDUNI
0.44over 159 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 | SEED | UNI |
|---|---|---|
| Max drawdown (400d) | -86.9% | -74.4% |
| Risk-adjusted return (90d) | -0.42 | 0.73 |
| Best 30 days (past year) | — | +143.9% |
| Worst 30 days (past year) | — | -47.8% |
Relative strength over 90 days: UNI outperformed SEED by 74.3% — measured on the SEED/UNI ratio, so it holds regardless of market direction.