42-coin vs Tether

Tether (USDT) is 221305.8× the size of 42-coin (42) by market capitalisation. Over the past 30 days, 42 is ahead by 26.1 percentage points (42 +26.1% against USDT -0.1%). Their daily returns move barely together (correlation 0.06 across 20 shared trading days). 42 has been the more volatile of the two, at 71% annualised against USDT's 1%.

Correlation: 0.06
Size ratio: 1 : 221305.8
Ahead over 30 days: 42

42-coin42

$19,176.78

24h: +0.98%
Market cap: $805,424
Volume 24h: $4,776
Volatility (ann.): 71%

TetherUSDT

$0.999278

24h: +0.02%
Market cap: $178.25B
Volume 24h: $62.50B
Volatility (ann.): 1%

42 0.0%Share of the two combined market caps100.0% USDT

Performance

42USDT

7 days+14.60%+0.03%42
30 days+26.06%-0.08%42

Correlation

0.06over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	42	USDT
Max drawdown (400d)	-8.0%	-0.2%
Risk-adjusted return (90d)	0.37	-0.03

Relative strength over 90 days: 42 outperformed USDT by 26.4% — measured on the 42/USDT ratio, so it holds regardless of market direction.

42-coin →Tether →