Ultra Cat (ULTCAT) and RaceCat (RACECAT) compared side by side. Over the past 30 days, ULTCAT is ahead by 13.9 percentage points (ULTCAT -40.5% against RACECAT -54.3%). Their daily returns move barely together (correlation 0.29 across 30 shared trading days). ULTCAT has been the more volatile of the two, at 590% annualised against RACECAT's 329%.
ULTCATRACECAT
0.29over 30 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 | ULTCAT | RACECAT |
|---|---|---|
| Max drawdown (400d) | -57.1% | -81.4% |
| Risk-adjusted return (90d) | 0.22 | -0.17 |
Relative strength over 90 days: ULTCAT outperformed RACECAT by 46.6% — measured on the ULTCAT/RACECAT ratio, so it holds regardless of market direction.