Tether (USDT) is 3500976.6× the size of Aegis Ai (AEGIS) by market capitalisation. Their daily returns move barely together (correlation 0.31 across 22 shared trading days). AEGIS has been the more volatile of the two, at 87% annualised against USDT's 1%.
AEGISUSDT
0.31over 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 | AEGIS | USDT |
|---|---|---|
| Max drawdown (400d) | -69.5% | -0.2% |
| Risk-adjusted return (90d) | 0.00 | 0.03 |
Relative strength over 90 days: AEGIS outperformed USDT by 19.6% — measured on the AEGIS/USDT ratio, so it holds regardless of market direction.