Chainlink (LINK) is 272.3× the size of UMA (UMA) by market capitalisation. Over the past 1 year, LINK is ahead by 37.6 percentage points (UMA -65.3% against LINK -27.7%). Their daily returns move closely together (correlation 0.68 across 399 shared trading days). Both have run at a similar volatility, around 75% annualised.
UMALINK
0.68over 399 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 | UMA | LINK |
|---|---|---|
| Max drawdown (400d) | -75.0% | -69.2% |
| Risk-adjusted return (90d) | 0.03 | 0.47 |
| Best 30 days (past year) | +31.3% | +61.6% |
| Worst 30 days (past year) | -42.2% | -43.6% |
Relative strength over 90 days: LINK outperformed UMA by 24.4% — measured on the UMA/LINK ratio, so it holds regardless of market direction.