Tether (USDT) is 4077.9× the size of Bifrost (BFC) by market capitalisation. Over the past 30 days, BFC is ahead by 178.2 percentage points (BFC +178.2% against USDT +0.0%). Their daily returns move loosely in opposite directions (correlation -0.39 across 26 shared trading days). BFC has been the more volatile of the two, at 936% annualised against USDT's 0%.
| Period | BFC | USDT | Ahead |
|---|---|---|---|
| 7 days | -13.65% | -0.01% | USDT |
| 30 days | +178.25% | +0.05% | BFC |
| Metric | BFC | USDT |
|---|---|---|
| Max drawdown (400d) | -35.5% | -0.0% |
| Risk-adjusted return (90d) | 0.19 | 0.19 |
Relative strength over 90 days: BFC outperformed USDT by 173.1% — measured on the BFC/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.