BUSD vs Tether

Tether (USDT) is 5119.9× the size of BUSD (BUSD) by market capitalisation. Over the past 30 days, BUSD is ahead by 0.3 percentage points (BUSD +0.3% against USDT -0.1%). Their daily returns move barely together (correlation 0.03 across 27 shared trading days). BUSD has been the more volatile of the two, at 35% annualised against USDT's 1%.

Correlation: 0.03
Size ratio: 1 : 5119.9
Ahead over 30 days: BUSD

BUSDBUSD

$1.0003

24h: +1.29%
Market cap: $34.81M
Volume 24h: $2,821
Volatility (ann.): 35%

TetherUSDT

$0.999148

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

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

Performance

BUSDUSDT

7 days+0.11%+0.03%BUSD
30 days+0.27%-0.08%BUSD

Correlation

0.03over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 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	BUSD	USDT
Max drawdown (400d)	-8.1%	-0.2%
Risk-adjusted return (90d)	0.00	-0.03

Relative strength over 90 days: BUSD outperformed USDT by 0.1% — measured on the BUSD/USDT ratio, so it holds regardless of market direction.

BUSD →Tether →