Uniswap (UNI) is 28.2× the size of Meteora (MET) by market capitalisation. Over the past 1 year, UNI is ahead by 74.5 percentage points (MET -35.6% against UNI +38.9%). Their daily returns move loosely together (correlation 0.36 across 356 shared trading days). Both have run at a similar volatility, around 109% annualised.
METUNI
0.36over 356 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 | MET | UNI |
|---|---|---|
| Max drawdown (400d) | -78.8% | -74.4% |
| Risk-adjusted return (90d) | 0.44 | 0.73 |
| Best 30 days (past year) | — | +143.9% |
| Worst 30 days (past year) | — | -47.8% |
Relative strength over 90 days: UNI outperformed MET by 10.3% — measured on the MET/UNI ratio, so it holds regardless of market direction.