Bitcoin Limited Edition vs Tether

Tether (USDT) is 410630377.8× the size of Bitcoin Limited Edition (BTCLE) by market capitalisation. Over the past 30 days, USDT is ahead by 99.9 percentage points (BTCLE -100.0% against USDT -0.1%). Their daily returns move loosely together (correlation 0.52 across 30 shared trading days). BTCLE has been the more volatile of the two, at 322% annualised against USDT's 1%.

Correlation: 0.52
Size ratio: 1 : 410630377.8
Ahead over 30 days: USDT

Bitcoin Limited EditionBTCLE

$0.028254

24h: +33.62%
Market cap: $434
Volume 24h: $235
Volatility (ann.): 322%

TetherUSDT

$0.999003

24h: +0.03%
Market cap: $178.19B
Volume 24h: $48.44B
Volatility (ann.): 1%

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

Performance

BTCLEUSDT

7 days-24.60%+0.03%USDT
30 days-100.00%-0.08%USDT

Correlation

0.52over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5290d: 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	BTCLE	USDT
Max drawdown (400d)	-100.0%	-0.2%
Risk-adjusted return (90d)	-0.31	-0.03

Relative strength over 90 days: USDT outperformed BTCLE by 100.0% — measured on the BTCLE/USDT ratio, so it holds regardless of market direction.

Bitcoin Limited Edition →Tether →