RE (RE) is 532.6× the size of UNION Protocol Governance (UNN) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 113 shared trading days). RE has been the more volatile of the two, at 218% annualised against UNN's 91%.
$0.000104
UNNRE
0.23over 113 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 | UNN | RE |
|---|---|---|
| Max drawdown (400d) | -64.4% | -69.6% |
| Risk-adjusted return (90d) | -0.57 | -0.20 |
| Best 30 days (past year) | +95.9% | — |
| Worst 30 days (past year) | -59.5% | — |
Relative strength over 90 days: RE outperformed UNN by 10.9% — measured on the UNN/RE ratio, so it holds regardless of market direction.