Worldcoin (WLD) is 76.8× the size of Umia (UMIA) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 37 shared trading days). UMIA has been the more volatile of the two, at 200% annualised against WLD's 125%.
UMIAWLD
0.08over 37 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 | UMIA | WLD |
|---|---|---|
| Max drawdown (400d) | -23.8% | -82.7% |
| Risk-adjusted return (90d) | 0.05 | 0.17 |
| Best 30 days (past year) | — | +186.2% |
| Worst 30 days (past year) | — | -45.6% |
Relative strength over 90 days: UMIA outperformed WLD by 5.9% — measured on the UMIA/WLD ratio, so it holds regardless of market direction.