Rain (RAIN) is 2791.8× the size of Unchain X (UNX) by market capitalisation. Over the past 30 days, UNX is ahead by 31.6 percentage points (UNX -26.7% against RAIN -58.2%). Their daily returns move loosely together (correlation 0.45 across 30 shared trading days). Both have run at a similar volatility, around 134% annualised.
UNXRAIN
0.45over 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 | UNX | RAIN |
|---|---|---|
| Max drawdown (400d) | -32.0% | -68.5% |
| Risk-adjusted return (90d) | -0.05 | -0.37 |
Relative strength over 90 days: UNX outperformed RAIN by 145.9% — measured on the UNX/RAIN ratio, so it holds regardless of market direction.