Wave Protocol vs UBI

UBI (UBI) is 6.5× the size of Wave Protocol (WAVE) by market capitalisation. Over the past 30 days, UBI is ahead by 19.7 percentage points (WAVE -84.7% against UBI -65.1%). Their daily returns move barely together (correlation 0.26 across 43 shared trading days). WAVE has been the more volatile of the two, at 436% annualised against UBI's 324%.

Correlation: 0.26
Size ratio: 1 : 6.5
Ahead over 30 days: UBI

Wave ProtocolWAVE

$1.023e-5

24h: -3.35%
Market cap: $10,235
Volume 24h: $133
Volatility (ann.): 436%

UBIUBI

$7.220e-7

24h: -5.62%
Market cap: $66,715
Volume 24h: $1,590
Volatility (ann.): 324%

WAVE 13.3%Share of the two combined market caps86.7% UBI

Performance

WAVEUBI

7 days-9.45%+24.32%UBI
30 days-84.74%-65.08%UBI

Correlation

0.26over 43 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 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	WAVE	UBI
Max drawdown (400d)	-91.2%	-81.0%
Risk-adjusted return (90d)	-0.21	-0.23

Relative strength over 90 days: UBI outperformed WAVE by 64.1% — measured on the WAVE/UBI ratio, so it holds regardless of market direction.

Wave Protocol →UBI →