Uniswap (UNI) is 119927.5× the size of UpBots Token (MBXN) by market capitalisation. Their daily returns move barely together (correlation 0.04 across 155 shared trading days). MBXN has been the more volatile of the two, at 209% annualised against UNI's 102%.
MBXNUNI
0.04over 155 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 | MBXN | UNI |
|---|---|---|
| Max drawdown (400d) | -94.8% | -74.4% |
| Risk-adjusted return (90d) | -0.37 | 0.65 |
| Best 30 days (past year) | — | +143.9% |
| Worst 30 days (past year) | — | -47.8% |
Relative strength over 90 days: UNI outperformed MBXN by 95.0% — measured on the MBXN/UNI ratio, so it holds regardless of market direction.