Tether (USDT) is 390160.5× the size of BnkToTheFuture (BFT) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.15 across 27 shared trading days). BFT has been the more volatile of the two, at 166% annualised against USDT's 1%.
BFTUSDT
-0.15over 27 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 | BFT | USDT |
|---|---|---|
| Max drawdown (400d) | -83.6% | -0.2% |
| Risk-adjusted return (90d) | -0.21 | 0.03 |
Relative strength over 90 days: BFT outperformed USDT by 45.0% — measured on the BFT/USDT ratio, so it holds regardless of market direction.