Tether (USDT) is 372.1× the size of 币安人生 (BinanceLife) (币安人生) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 31 shared trading days). 币安人生 has been the more volatile of the two, at 184% annualised against USDT's 0%.
| Period | 币安人生 | USDT | Ahead |
|---|---|---|---|
| 7 days | +8.73% | -0.01% | 币安人生 |
| 30 days | +8.50% | +0.05% | 币安人生 |
| 90 days | -26.48% | — | — |
| Metric | 币安人生 | USDT |
|---|---|---|
| Max drawdown (400d) | -84.5% | -0.0% |
| Risk-adjusted return (90d) | -0.29 | 0.19 |
Relative strength over 90 days: USDT outperformed 币安人生 by 0.2% — measured on the 币安人生/USDT ratio, so it holds regardless of market direction.
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.