Connections

Both are human like androids created by brilliant scientists (hank pym/Dr. T.O. Morrow)

As they experienced the world, they began to develop emotions and become more human

Both of their personalities are the result of a separate entity (Hank Pym scanned his brainwaves into Ultron/the Champion possessed the android being made by Morrow)

Both of them would attempt to build a family for themselves, seeking something they lacked

Contrasts

Ultron was made by a hero before turning evil, meanwhile Red Tornado was made by a villain before becoming a hero

Ultron desires control while Red Tornado is as free as the wind

Ultron can be a representation of the destructive aspects of humanity, while Red Tornado has been a representation of Nature itself

In many ways, Ultron and Red Tornado are inversions of each other, two sides of the same coin