Tether (USDT) is 36243256.3× the size of AEGON by Virtuals (AEGON) by market capitalisation. Their daily returns move barely together (correlation 0.04 across 25 shared trading days). AEGON has been the more volatile of the two, at 208% annualised against USDT's 1%.
AEGONUSDT
0.04over 25 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 | AEGON | USDT |
|---|---|---|
| Max drawdown (400d) | -98.3% | -0.2% |
| Risk-adjusted return (90d) | -0.39 | 0.03 |
Relative strength over 90 days: USDT outperformed AEGON by 85.0% — measured on the AEGON/USDT ratio, so it holds regardless of market direction.