Bnext B3X (B3X) and Tether (USDT) compared side by side. Their daily returns move barely together (correlation 0.04 across 35 shared trading days). B3X has been the more volatile of the two, at 142% annualised against USDT's 1%.
B3XUSDT
0.04over 35 shared trading days
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.
| Metric | B3X | USDT |
|---|---|---|
| Max drawdown (400d) | -88.7% | -0.2% |
| Risk-adjusted return (90d) | -0.16 | 0.03 |
Relative strength over 90 days: USDT outperformed B3X by 15.4% — measured on the B3X/USDT ratio, so it holds regardless of market direction.