AWE Network (AWE) is 4.0× the size of UMA (UMA) by market capitalisation. Over the past 1 year, AWE is ahead by 63.0 percentage points (UMA -65.3% against AWE -2.3%). Their daily returns move loosely together (correlation 0.36 across 399 shared trading days). Both have run at a similar volatility, around 82% annualised.
UMAAWE
0.36over 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 | AWE |
|---|---|---|
| Max drawdown (400d) | -75.0% | -60.1% |
| Risk-adjusted return (90d) | 0.03 | 0.20 |
| Best 30 days (past year) | +31.3% | +87.1% |
| Worst 30 days (past year) | -42.2% | -46.6% |
Relative strength over 90 days: AWE outperformed UMA by 9.8% — measured on the UMA/AWE ratio, so it holds regardless of market direction.