BigShortBets vs Tether

Tether (USDT) is 105157.8× the size of BigShortBets (BIGSB) by market capitalisation. Over the past 30 days, BIGSB is ahead by 47.8 percentage points (BIGSB +47.7% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.18 across 28 shared trading days). BIGSB has been the more volatile of the two, at 215% annualised against USDT's 1%.

Correlation: -0.18
Size ratio: 1 : 105157.8
Ahead over 30 days: BIGSB

BigShortBetsBIGSB

$0.285226

24h: +2.66%
Market cap: $1.69M
Volume 24h: $3,058
Volatility (ann.): 215%

TetherUSDT

$0.999148

24h: +0.04%
Market cap: $178.22B
Volume 24h: $56.79B
Volatility (ann.): 1%

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

Performance

BIGSBUSDT

7 days+8.41%+0.03%BIGSB
30 days+47.74%-0.08%BIGSB

Correlation

-0.18over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1890d: 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	BIGSB	USDT
Max drawdown (400d)	-68.0%	-0.2%
Risk-adjusted return (90d)	-0.21	-0.03

Relative strength over 90 days: USDT outperformed BIGSB by 44.7% — measured on the BIGSB/USDT ratio, so it holds regardless of market direction.

BigShortBets →Tether →