Alpha Base Index vs Tether

Tether (USDT) is 1580600.7× the size of Alpha Base Index (ABX) by market capitalisation. Over the past 30 days, USDT is ahead by 5.7 percentage points (ABX -5.7% against USDT -0.0%). Their daily returns move loosely together (correlation 0.39 across 27 shared trading days). ABX has been the more volatile of the two, at 241% annualised against USDT's 1%.

Correlation: 0.39
Size ratio: 1 : 1580600.7
Ahead over 30 days: USDT

Alpha Base IndexABX

$0.001350

24h: +5.35%
Market cap: $112,804
Volume 24h: $2,031
Volatility (ann.): 241%

TetherUSDT

$0.999576

24h: +0.07%
Market cap: $178.30B
Volume 24h: $57.75B
Volatility (ann.): 1%

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

Performance

ABXUSDT

7 days-8.92%+0.03%USDT
30 days-5.73%-0.04%USDT

Correlation

0.39over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3990d: 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	ABX	USDT
Max drawdown (400d)	-57.2%	-0.2%
Risk-adjusted return (90d)	-0.09	0.03

Relative strength over 90 days: USDT outperformed ABX by 21.9% — measured on the ABX/USDT ratio, so it holds regardless of market direction.

Alpha Base Index →Tether →