Tether (USDT) is 5195.1× the size of Aurora (AURORA) by market capitalisation. Their daily returns move barely together (correlation 0.09 across 45 shared trading days). AURORA has been the more volatile of the two, at 379% annualised against USDT's 1%.
AURORAUSDT
0.09over 45 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 | AURORA | USDT |
|---|---|---|
| Max drawdown (400d) | -56.2% | -0.2% |
| Risk-adjusted return (90d) | 0.26 | -0.03 |
Relative strength over 90 days: AURORA outperformed USDT by 187.0% — measured on the AURORA/USDT ratio, so it holds regardless of market direction.