Chop vs Tether

Tether (USDT) is 174045.2× the size of Chop (CHOP) by market capitalisation. Over the past 30 days, CHOP is ahead by 182.8 percentage points (CHOP +182.7% against USDT -0.1%). Their daily returns move loosely together (correlation 0.48 across 23 shared trading days). CHOP has been the more volatile of the two, at 408% annualised against USDT's 1%.

Correlation: 0.48
Size ratio: 1 : 174045.2
Ahead over 30 days: CHOP

ChopCHOP

$1.205e-5

24h: +2.46%
Market cap: $1.02M
Volume 24h: $75,206
Volatility (ann.): 408%

TetherUSDT

$0.998852

24h: +0.01%
Market cap: $178.17B
Volume 24h: $49.59B
Volatility (ann.): 1%

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

Performance

CHOPUSDT

7 days+54.39%+0.03%CHOP
30 days+182.74%-0.08%CHOP

Correlation

0.48over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	CHOP	USDT
Max drawdown (400d)	-33.0%	-0.2%
Risk-adjusted return (90d)	0.45	-0.03

Relative strength over 90 days: CHOP outperformed USDT by 276.5% — measured on the CHOP/USDT ratio, so it holds regardless of market direction.

Chop →Tether →