Unibase (UB) is 47770.4× the size of REAL ESMATE by Virtuals (EMATE) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 27 shared trading days). EMATE has been the more volatile of the two, at 452% annualised against UB's 101%.
EMATEUB
0.05over 27 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 | EMATE | UB |
|---|---|---|
| Max drawdown (400d) | -87.1% | -31.0% |
| Risk-adjusted return (90d) | -0.24 | -0.05 |
Relative strength over 90 days: UB outperformed EMATE by 62.5% — measured on the EMATE/UB ratio, so it holds regardless of market direction.