LUMO (LUMO) and UBI (UBI) compared side by side. Their daily returns move barely together (correlation 0.14 across 21 shared trading days). UBI has been the more volatile of the two, at 316% annualised against LUMO's 156%.
LUMOUBI
0.14over 21 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 | LUMO | UBI |
|---|---|---|
| Max drawdown (400d) | -49.4% | -81.0% |
| Risk-adjusted return (90d) | -0.32 | -0.24 |
Relative strength over 90 days: LUMO outperformed UBI by 27.6% — measured on the LUMO/UBI ratio, so it holds regardless of market direction.