Unitas Gold vs Nest BlackOpal LiquidStone II Vault

Nest BlackOpal LiquidStone II Vault (NOPAL) is 58.7× the size of Unitas Gold (XGLD) by market capitalisation. Over the past 30 days, NOPAL is ahead by 11.3 percentage points (XGLD -10.0% against NOPAL +1.3%). Their daily returns move loosely in opposite directions (correlation -0.46 across 33 shared trading days). XGLD has been the more volatile of the two, at 27% annualised against NOPAL's 2%.

Correlation: -0.46
Size ratio: 1 : 58.7
Ahead over 30 days: NOPAL

Unitas GoldXGLD

$3,964.61

24h: +0.18%
Market cap: $1.98M
Volume 24h: $3,999
Volatility (ann.): 27%

Nest BlackOpal LiquidStone II VaultNOPAL

$1.1100

24h: +0.04%
Market cap: $116.17M
Volume 24h: —
Volatility (ann.): 2%

XGLD 1.7%Share of the two combined market caps98.3% NOPAL

Performance

XGLDNOPAL

7 days-1.63%+0.00%NOPAL
30 days-10.03%+1.28%NOPAL

Correlation

-0.46over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4790d: insufficient data1y: insufficient data

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.

Risk & extremes

Metric	XGLD	NOPAL
Max drawdown (400d)	-13.8%	0.0%
Risk-adjusted return (90d)	-0.44	0.82

Relative strength over 90 days: NOPAL outperformed XGLD by 13.5% — measured on the XGLD/NOPAL ratio, so it holds regardless of market direction.

Unitas Gold →Nest BlackOpal LiquidStone II Vault →