Unibase (UB) is 168.3× the size of Vanar (VANRY) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.39 across 24 shared trading days). VANRY has been the more volatile of the two, at 131% annualised against UB's 101%.
VANRYUB
-0.39over 24 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 | VANRY | UB |
|---|---|---|
| Max drawdown (400d) | -98.5% | -31.0% |
| Risk-adjusted return (90d) | -0.46 | -0.09 |
Relative strength over 90 days: UB outperformed VANRY by 49.7% — measured on the VANRY/UB ratio, so it holds regardless of market direction.