Cap USD vs Tether

Tether (USDT) is 2766.0× the size of Cap USD (CUSD) by market capitalisation. Over the past 30 days, CUSD is ahead by 0.1 percentage points (CUSD -0.0% against USDT -0.1%). Their daily returns move barely together (correlation 0.16 across 54 shared trading days). USDT has been the more volatile of the two, at 1% annualised against CUSD's 0%.

Correlation: 0.16
Size ratio: 1 : 2766.0
Ahead over 30 days: CUSD

Cap USDCUSD

$0.999789

24h: +0.01%
Market cap: $64.45M
Volume 24h: —
Volatility (ann.): 0%

TetherUSDT

$0.999392

24h: +0.03%
Market cap: $178.27B
Volume 24h: $64.53B
Volatility (ann.): 1%

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

Performance

CUSDUSDT

7 days-0.00%+0.03%USDT
30 days-0.02%-0.08%CUSD

Correlation

0.16over 54 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1790d: 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	CUSD	USDT
Max drawdown (400d)	-0.0%	-0.2%
Risk-adjusted return (90d)	-0.12	-0.03

Relative strength over 90 days: CUSD outperformed USDT by 0.0% — measured on the CUSD/USDT ratio, so it holds regardless of market direction.

Cap USD →Tether →