Uniswap (UNI) is 246.7× the size of RHEA (RHEA) by market capitalisation. Over the past 1 year, RHEA is ahead by 34.7 percentage points (RHEA +85.1% against UNI +50.3%). Their daily returns move barely together (correlation 0.25 across 373 shared trading days). RHEA has been the more volatile of the two, at 243% annualised against UNI's 101%.
RHEAUNI
0.25over 373 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 | RHEA | UNI |
|---|---|---|
| Max drawdown (400d) | -84.5% | -74.4% |
| Risk-adjusted return (90d) | 0.81 | 0.83 |
| Best 30 days (past year) | +1438.2% | +143.9% |
| Worst 30 days (past year) | -66.5% | -47.8% |
Relative strength over 90 days: RHEA outperformed UNI by 88.1% — measured on the RHEA/UNI ratio, so it holds regardless of market direction.