Make Robins Great Again (MRGA) and Ulti (ULTI) compared side by side. Over the past 30 days, MRGA is ahead by 28.5 percentage points (MRGA -52.7% against ULTI -81.1%). Their daily returns move barely together (correlation 0.31 across 20 shared trading days). ULTI has been the more volatile of the two, at 563% annualised against MRGA's 150%.
MRGAULTI
0.31over 20 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 | MRGA | ULTI |
|---|---|---|
| Max drawdown (400d) | -58.1% | -87.3% |
| Risk-adjusted return (90d) | -0.35 | 0.00 |
Relative strength over 90 days: ULTI outperformed MRGA by 19.9% — measured on the MRGA/ULTI ratio, so it holds regardless of market direction.