Tether (USDT) is 38771.8× the size of BitMine Immersion Technologies (bStocks Tokenized Stock) (BMNRB) by market capitalisation. Over the past 30 days, BMNRB is ahead by 21.1 percentage points (BMNRB +21.1% against USDT +0.0%). Their daily returns move closely together (correlation 0.61 across 31 shared trading days). BMNRB has been the more volatile of the two, at 96% annualised against USDT's 0%.
| Period | BMNRB | USDT | Ahead |
|---|---|---|---|
| 7 days | +4.16% | -0.01% | BMNRB |
| 30 days | +21.14% | +0.05% | BMNRB |
| Metric | BMNRB | USDT |
|---|---|---|
| Max drawdown (400d) | -12.2% | -0.0% |
| Risk-adjusted return (90d) | 0.44 | 0.19 |
Relative strength over 90 days: BMNRB outperformed USDT by 29.0% — measured on the BMNRB/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.