Unibase (UB) is 37.2× the size of QAIT (QAIT) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.10 across 44 shared trading days). QAIT has been the more volatile of the two, at 174% annualised against UB's 101%.
QAITUB
-0.10over 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 | QAIT | UB |
|---|---|---|
| Max drawdown (400d) | -95.7% | -31.0% |
| Risk-adjusted return (90d) | -0.48 | -0.09 |
Relative strength over 90 days: UB outperformed QAIT by 42.1% — measured on the QAIT/UB ratio, so it holds regardless of market direction.