Block vs Tether

Tether (USDT) is 184368.2× the size of Block (BLOCK) by market capitalisation. Over the past 30 days, USDT is ahead by 30.3 percentage points (BLOCK -30.4% against USDT -0.0%). Their daily returns move barely together (correlation 0.18 across 29 shared trading days). BLOCK has been the more volatile of the two, at 83% annualised against USDT's 1%.

Correlation: 0.18
Size ratio: 1 : 184368.2
Ahead over 30 days: USDT

BlockBLOCK

$0.000967

24h: +0.12%
Market cap: $966,917
Volume 24h: $147,418
Volatility (ann.): 83%

TetherUSDT

$0.999411

24h: +0.05%
Market cap: $178.27B
Volume 24h: $63.38B
Volatility (ann.): 1%

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

Performance

BLOCKUSDT

7 days-1.11%+0.03%USDT
30 days-30.36%-0.04%USDT

Correlation

0.18over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1890d: 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	BLOCK	USDT
Max drawdown (400d)	-42.1%	-0.2%
Risk-adjusted return (90d)	-0.49	0.03

Relative strength over 90 days: USDT outperformed BLOCK by 40.5% — measured on the BLOCK/USDT ratio, so it holds regardless of market direction.

Block →Tether →