Core vs Tether

Tether (USDT) is 212837.3× the size of Core (CORE) by market capitalisation. Over the past 30 days, USDT is ahead by 2.9 percentage points (CORE -2.9% against USDT -0.1%). Their daily returns move barely together (correlation 0.17 across 28 shared trading days). CORE has been the more volatile of the two, at 165% annualised against USDT's 1%.

Correlation: 0.17
Size ratio: 1 : 212837.3
Ahead over 30 days: USDT

CoreCORE

$0.000840

24h: +1.81%
Market cap: $837,440
Volume 24h: $2,277
Volatility (ann.): 165%

TetherUSDT

$0.999242

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

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

Performance

COREUSDT

7 days-11.50%+0.03%USDT
30 days-2.93%-0.08%USDT

Correlation

0.17over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1790d: 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	CORE	USDT
Max drawdown (400d)	-39.3%	-0.2%
Risk-adjusted return (90d)	0.00	-0.03

Relative strength over 90 days: USDT outperformed CORE by 0.1% — measured on the CORE/USDT ratio, so it holds regardless of market direction.

Core →Tether →