Compliant Naira vs Tether

Tether (USDT) is 51523.7× the size of Compliant Naira (CNGN) by market capitalisation. Over the past 30 days, CNGN is ahead by 0.6 percentage points (CNGN +0.5% against USDT -0.1%). Their daily returns move closely together (correlation 0.60 across 21 shared trading days). CNGN has been the more volatile of the two, at 4% annualised against USDT's 1%.

Correlation: 0.60
Size ratio: 1 : 51523.7
Ahead over 30 days: CNGN

Compliant NairaCNGN

$0.000724

24h: -0.12%
Market cap: $3.46M
Volume 24h: $21,556
Volatility (ann.): 4%

TetherUSDT

$0.999242

24h: +0.03%
Market cap: $178.24B
Volume 24h: $59.77B
Volatility (ann.): 1%

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

Performance

CNGNUSDT

7 days+0.05%+0.03%CNGN
30 days+0.48%-0.08%CNGN

Correlation

0.60over 21 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	CNGN	USDT
Max drawdown (400d)	-0.7%	-0.2%
Risk-adjusted return (90d)	0.11	-0.03

Relative strength over 90 days: CNGN outperformed USDT by 0.4% — measured on the CNGN/USDT ratio, so it holds regardless of market direction.

Compliant Naira →Tether →