UBXS vs Spiko Amundi Overnight Swap Fund

Spiko Amundi Overnight Swap Fund (SAFO) is 4250.4× the size of UBXS (UBXS) by market capitalisation. Over the past 30 days, SAFO is ahead by 2.7 percentage points (UBXS -2.1% against SAFO +0.6%). Their daily returns move barely together (correlation 0.19 across 22 shared trading days). UBXS has been the more volatile of the two, at 51% annualised against SAFO's 1%.

Correlation: 0.19
Size ratio: 1 : 4250.4
Ahead over 30 days: SAFO

UBXSUBXS

$0.000685

24h: +2.92%
Market cap: $56,773
Volume 24h: $78
Volatility (ann.): 51%

Spiko Amundi Overnight Swap FundSAFO

$1.0270

24h: +0.01%
Market cap: $241.31M
Volume 24h: —
Volatility (ann.): 1%

UBXS 0.0%Share of the two combined market caps100.0% SAFO

Performance

UBXSSAFO

7 days-0.44%+0.10%SAFO
30 days-2.13%+0.59%SAFO

Correlation

0.19over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	UBXS	SAFO
Max drawdown (400d)	-9.1%	0.0%
Risk-adjusted return (90d)	-0.06	1.15

Relative strength over 90 days: UBXS outperformed SAFO by 3.6% — measured on the UBXS/SAFO ratio, so it holds regardless of market direction.

UBXS →Spiko Amundi Overnight Swap Fund →