Brazilian real vs Tether

Tether (USDT) is 47704.4× the size of Brazilian real (WBRL) by market capitalisation. Over the past 30 days, USDT is ahead by 7.8 percentage points (WBRL -7.8% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.03 across 30 shared trading days). WBRL has been the more volatile of the two, at 26% annualised against USDT's 1%.

Correlation: -0.03
Size ratio: 1 : 47704.4
Ahead over 30 days: USDT

Brazilian realWBRL

$0.182729

24h: -0.39%
Market cap: $3.74M
Volume 24h: $12,858
Volatility (ann.): 26%

TetherUSDT

$0.999031

24h: +0.04%
Market cap: $178.20B
Volume 24h: $49.20B
Volatility (ann.): 1%

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

Performance

WBRLUSDT

7 days+1.01%+0.03%WBRL
30 days-7.85%-0.08%USDT

Correlation

-0.03over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0390d: 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	WBRL	USDT
Max drawdown (400d)	-9.0%	-0.2%
Risk-adjusted return (90d)	-0.28	-0.03

Relative strength over 90 days: USDT outperformed WBRL by 7.2% — measured on the WBRL/USDT ratio, so it holds regardless of market direction.

Brazilian real →Tether →