Bitcoin Pro vs Tether

Tether (USDT) is 26468.2× the size of Bitcoin Pro (BTCP) by market capitalisation. Over the past 30 days, USDT is ahead by 22.0 percentage points (BTCP -22.1% against USDT -0.0%). Their daily returns move barely together (correlation 0.26 across 26 shared trading days). BTCP has been the more volatile of the two, at 260% annualised against USDT's 1%.

Correlation: 0.26
Size ratio: 1 : 26468.2
Ahead over 30 days: USDT

Bitcoin ProBTCP

$3.5400

24h: -19.77%
Market cap: $6.73M
Volume 24h: $5,401
Volatility (ann.): 260%

TetherUSDT

$0.999398

24h: +0.04%
Market cap: $178.26B
Volume 24h: $64.34B
Volatility (ann.): 1%

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

Performance

BTCPUSDT

7 days-12.63%+0.03%USDT
30 days-22.06%-0.04%USDT

Correlation

0.26over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2690d: 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	BTCP	USDT
Max drawdown (400d)	-56.1%	-0.2%
Risk-adjusted return (90d)	-0.06	0.03

Relative strength over 90 days: USDT outperformed BTCP by 15.1% — measured on the BTCP/USDT ratio, so it holds regardless of market direction.

Bitcoin Pro →Tether →