USDS (USDS) is 41071.4× the size of Mento British Pound (GBPM) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.07 across 23 shared trading days). GBPM has been the more volatile of the two, at 8% annualised against USDS's 1%.
GBPMUSDS
-0.07over 23 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 | GBPM | USDS |
|---|---|---|
| Max drawdown (400d) | -0.8% | -0.4% |
| Risk-adjusted return (90d) | 0.20 | 0.00 |
Relative strength over 90 days: GBPM outperformed USDS by 1.4% — measured on the GBPM/USDS ratio, so it holds regardless of market direction.