Tether (USDT) is 1794.7× the size of lium (SN51) by market capitalisation. Over the past 30 days, SN51 is ahead by 39.3 percentage points (SN51 +39.3% against USDT +0.0%). Their daily returns move barely together (correlation 0.20 across 29 shared trading days). SN51 has been the more volatile of the two, at 100% annualised against USDT's 0%.
| Period | SN51 | USDT | Ahead |
|---|---|---|---|
| 7 days | -13.36% | -0.01% | USDT |
| 30 days | +39.32% | +0.05% | SN51 |
| Metric | SN51 | USDT |
|---|---|---|
| Max drawdown (400d) | -14.7% | -0.0% |
| Risk-adjusted return (90d) | 0.39 | 0.19 |
Relative strength over 90 days: SN51 outperformed USDT by 41.8% — measured on the SN51/USDT ratio, so it holds regardless of market direction.
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.