Unibase (UB) is 82.2× the size of Rainbow (RNBW) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 44 shared trading days). RNBW has been the more volatile of the two, at 186% annualised against UB's 101%.
RNBWUB
0.41over 44 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 | RNBW | UB |
|---|---|---|
| Max drawdown (400d) | -66.0% | -31.0% |
| Risk-adjusted return (90d) | 0.12 | -0.09 |
Relative strength over 90 days: RNBW outperformed UB by 34.6% — measured on the RNBW/UB ratio, so it holds regardless of market direction.