Uniswap (UNI) is 55536.3× the size of Orchai (OCH) by market capitalisation. Their daily returns move loosely together (correlation 0.46 across 116 shared trading days). OCH has been the more volatile of the two, at 182% annualised against UNI's 101%.
OCHUNI
0.46over 116 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 | OCH | UNI |
|---|---|---|
| Max drawdown (400d) | -91.2% | -74.4% |
| Risk-adjusted return (90d) | -0.46 | 0.83 |
| Best 30 days (past year) | — | +143.9% |
| Worst 30 days (past year) | — | -47.8% |
Relative strength over 90 days: UNI outperformed OCH by 85.6% — measured on the OCH/UNI ratio, so it holds regardless of market direction.