Ultra (UOS) and GALA (GALA) compared side by side. Over the past 1 year, GALA is ahead by 14.5 percentage points (UOS -95.8% against GALA -81.3%). Their daily returns move barely together (correlation 0.20 across 372 shared trading days). UOS has been the more volatile of the two, at 147% annualised against GALA's 97%.
UOSGALA
0.20over 372 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 | UOS | GALA |
|---|---|---|
| Max drawdown (400d) | -96.1% | -91.5% |
| Risk-adjusted return (90d) | -0.45 | -0.06 |
| Best 30 days (past year) | +74.1% | +53.8% |
| Worst 30 days (past year) | -59.6% | -48.8% |
Relative strength over 90 days: GALA outperformed UOS by 53.1% — measured on the UOS/GALA ratio, so it holds regardless of market direction.