Tether Gold (XAUT) is 19492251.8× the size of Global X Uranium aStock (AURA) by market capitalisation. Their daily returns move loosely together (correlation 0.48 across 31 shared trading days). AURA has been the more volatile of the two, at 40% annualised against XAUT's 24%.
AURAXAUT
0.48over 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 | AURA | XAUT |
|---|---|---|
| Max drawdown (400d) | -18.8% | -19.4% |
| Risk-adjusted return (90d) | -0.41 | -0.20 |
Relative strength over 90 days: XAUT outperformed AURA by 12.1% — measured on the AURA/XAUT ratio, so it holds regardless of market direction.