Super Trust (SUT) and Ultima (ULTIMA) compared side by side. Over the past 30 days, SUT is ahead by 9.8 percentage points (SUT -31.4% against ULTIMA -41.2%). Their daily returns move barely together (correlation 0.10 across 22 shared trading days). SUT has been the more volatile of the two, at 154% annualised against ULTIMA's 52%.
SUTULTIMA
0.10over 22 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 | SUT | ULTIMA |
|---|---|---|
| Max drawdown (400d) | -52.6% | -51.6% |
| Risk-adjusted return (90d) | -0.29 | -0.96 |
Relative strength over 90 days: SUT outperformed ULTIMA by 9.0% — measured on the SUT/ULTIMA ratio, so it holds regardless of market direction.