Clanker Index vs Tether

Tether (USDT) is 3808541.0× the size of Clanker Index (CLX) by market capitalisation. Over the past 30 days, USDT is ahead by 15.2 percentage points (CLX -15.2% against USDT -0.0%). Their daily returns move barely together (correlation 0.32 across 24 shared trading days). CLX has been the more volatile of the two, at 126% annualised against USDT's 1%.

Correlation: 0.32
Size ratio: 1 : 3808541.0
Ahead over 30 days: USDT

Clanker IndexCLX

$0.385660

24h: —
Market cap: $46,613
Volume 24h: $2,296
Volatility (ann.): 126%

TetherUSDT

$0.999024

24h: -0.04%
Market cap: $177.53B
Volume 24h: $62.24B
Volatility (ann.): 1%

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

Performance

CLXUSDT

7 days+23.61%+0.03%CLX
30 days-15.23%-0.04%USDT

Correlation

0.32over 24 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	CLX	USDT
Max drawdown (400d)	-40.6%	-0.2%
Risk-adjusted return (90d)	-0.15	0.03

Relative strength over 90 days: CLX outperformed USDT by 0.9% — measured on the CLX/USDT ratio, so it holds regardless of market direction.

Clanker Index →Tether →