Tether (USDT) is 1412536.4× the size of Behodler (EYE) by market capitalisation. Their daily returns move loosely together (correlation 0.42 across 31 shared trading days). EYE has been the more volatile of the two, at 135% annualised against USDT's 1%.
EYEUSDT
0.42over 31 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 | EYE | USDT |
|---|---|---|
| Max drawdown (400d) | -77.6% | -0.2% |
| Risk-adjusted return (90d) | -0.22 | 0.03 |
Relative strength over 90 days: EYE outperformed USDT by 5.1% — measured on the EYE/USDT ratio, so it holds regardless of market direction.