Chain-key USDT vs USDS

USDS (USDS) is 11036.4× the size of Chain-key USDT (CKUSDT) by market capitalisation. Over the past 90 days, CKUSDT is ahead by 0.3 percentage points (CKUSDT +0.3% against USDS +0.0%). Their daily returns move closely together (correlation 0.72 across 183 shared trading days). CKUSDT has been the more volatile of the two, at 12% annualised against USDS's 1%.

Correlation: 0.72
Size ratio: 1 : 11036.4
Ahead over 90 days: CKUSDT

Chain-key USDTCKUSDT

$0.998983

24h: -0.05%
Market cap: $867,670
Volume 24h: $75,615
Volatility (ann.): 12%

USDSUSDS

$1.0011

24h: +0.02%
Market cap: $9.58B
Volume 24h: $204.22M
Volatility (ann.): 1%

CKUSDT 0.0%Share of the two combined market caps100.0% USDS

Performance

CKUSDTUSDS

7 days-0.03%-0.02%USDS
30 days+0.36%+0.09%CKUSDT
90 days+0.34%+0.01%CKUSDT

Correlation

0.72over 183 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8490d: 0.791y: 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	CKUSDT	USDS
Max drawdown (400d)	-8.4%	-0.4%
Risk-adjusted return (90d)	0.15	0.01

Relative strength over 90 days: CKUSDT outperformed USDS by 0.3% — measured on the CKUSDT/USDS ratio, so it holds regardless of market direction.

Chain-key USDT →USDS →