Unibase (UB) is 4918.7× the size of Hermes OS (HERMESOS) by market capitalisation. Over the past 30 days, UB is ahead by 25.6 percentage points (HERMESOS -42.4% against UB -16.8%). Their daily returns move barely together (correlation 0.11 across 24 shared trading days). Both have run at a similar volatility, around 101% annualised.
HERMESOSUB
0.11over 24 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 | HERMESOS | UB |
|---|---|---|
| Max drawdown (400d) | -48.7% | -31.0% |
| Risk-adjusted return (90d) | -0.42 | -0.05 |
Relative strength over 90 days: UB outperformed HERMESOS by 32.1% — measured on the HERMESOS/UB ratio, so it holds regardless of market direction.