Young (YNG) and Ultima (ULTIMA) compared side by side. Over the past 30 days, YNG is ahead by 30.7 percentage points (YNG -10.5% against ULTIMA -41.2%). Their daily returns move barely together (correlation 0.20 across 22 shared trading days). ULTIMA has been the more volatile of the two, at 52% annualised against YNG's 18%.
YNGULTIMA
0.20over 22 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 | YNG | ULTIMA |
|---|---|---|
| Max drawdown (400d) | -11.5% | -51.6% |
| Risk-adjusted return (90d) | -0.60 | -0.96 |
Relative strength over 90 days: YNG outperformed ULTIMA by 31.2% — measured on the YNG/ULTIMA ratio, so it holds regardless of market direction.