USDS (USDS) is 556.5× the size of WalletConnect Token (WCT) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 209 shared trading days). WCT has been the more volatile of the two, at 101% annualised against USDS's 1%.
WCTUSDS
0.08over 209 shared trading days
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.
| Metric | WCT | USDS |
|---|---|---|
| Max drawdown (400d) | -87.2% | -0.4% |
| Risk-adjusted return (90d) | -0.08 | 0.01 |
| Best 30 days (past year) | +38.2% | — |
| Worst 30 days (past year) | -58.5% | — |
Relative strength over 90 days: USDS outperformed WCT by 6.0% — measured on the WCT/USDS ratio, so it holds regardless of market direction.