CommonWealth vs Tether

Tether (USDT) is 53350.1× the size of CommonWealth (CWU) by market capitalisation. Over the past 30 days, USDT is ahead by 51.9 percentage points (CWU -52.0% against USDT -0.1%). Their daily returns move loosely together (correlation 0.48 across 32 shared trading days). CWU has been the more volatile of the two, at 144% annualised against USDT's 1%.

Correlation: 0.48
Size ratio: 1 : 53350.1
Ahead over 30 days: USDT

CommonWealthCWU

$0.003340

24h: -2.51%
Market cap: $3.34M
Volume 24h: $904
Volatility (ann.): 144%

TetherUSDT

$0.998845

24h: +0.01%
Market cap: $178.17B
Volume 24h: $49.77B
Volatility (ann.): 1%

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

Performance

CWUUSDT

7 days-8.65%+0.03%USDT
30 days-51.95%-0.08%USDT

Correlation

0.48over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4890d: 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	CWU	USDT
Max drawdown (400d)	-58.7%	-0.2%
Risk-adjusted return (90d)	-0.41	-0.03

Relative strength over 90 days: USDT outperformed CWU by 58.6% — measured on the CWU/USDT ratio, so it holds regardless of market direction.

CommonWealth →Tether →