Tether (USDT) is 562.1× the size of BitTorrent (BTT) by market capitalisation. Over the past 30 days, BTT is ahead by 26.9 percentage points (BTT +26.9% against USDT +0.0%). Their daily returns move loosely together (correlation 0.55 across 31 shared trading days). BTT has been the more volatile of the two, at 44% annualised against USDT's 0%.
| Period | BTT | USDT | Ahead |
|---|---|---|---|
| 7 days | +10.00% | -0.01% | BTT |
| 30 days | +26.92% | +0.05% | BTT |
| Metric | BTT | USDT |
|---|---|---|
| Max drawdown (400d) | -3.3% | -0.0% |
| Risk-adjusted return (90d) | 0.62 | 0.19 |
Relative strength over 90 days: BTT outperformed USDT by 26.9% — measured on the BTT/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.