Uranium is defensive in a similar way to thermal coal, which has also performed better than most other commodities. Both are used by utilities to provide baseload power.

That's where I see the bright side of the story....lets look back at the previous paragraph and highlight the significant points:

"Uranium is defensive in a similar way to thermal coal, which has also performed better than most other commodities. Both are used by utilities to provide baseload power"

So the world is still using uranium. It will come back to energy resources.

This correlation between stock price recovery and commodities demonstrates a rebuilding of economic confidence. By the time most investors get comfortable enough to get back at it, a large move will have already been made.

It all comes back to commodities, with depressed Uranium leading the way. Either that or the world will just stop to eating, heating their homes and driving their vehicles every single day.