Tether (USDT) is 704.8× the size of Conflux (CFX) by market capitalisation. Their daily returns move barely together (correlation 0.24 across 31 shared trading days). CFX has been the more volatile of the two, at 88% annualised against USDT's 0%.
| Period | CFX | USDT | Ahead |
|---|---|---|---|
| 7 days | +7.28% | -0.01% | CFX |
| 30 days | +13.26% | +0.05% | CFX |
| 90 days | +7.60% | — | — |
| 1 year | -71.20% | — | — |
| Metric | CFX | USDT |
|---|---|---|
| Max drawdown (400d) | -80.6% | -0.0% |
| Risk-adjusted return (90d) | 0.13 | 0.19 |
| Best 30 days (past year) | +43.9% | — |
| Worst 30 days (past year) | -44.8% | — |
Relative strength over 90 days: CFX outperformed USDT by 7.3% — measured on the CFX/USDT ratio, so it holds regardless of market direction.
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.