Tether Gold (XAUT) is 6989.4× the size of CryptoAutos (AUTOS) by market capitalisation. Their daily returns move loosely together (correlation 0.51 across 40 shared trading days). AUTOS has been the more volatile of the two, at 317% annualised against XAUT's 24%.
AUTOSXAUT
0.51over 40 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 | AUTOS | XAUT |
|---|---|---|
| Max drawdown (400d) | -61.2% | -19.4% |
| Risk-adjusted return (90d) | 0.08 | -0.20 |
Relative strength over 90 days: AUTOS outperformed XAUT by 38.2% — measured on the AUTOS/XAUT ratio, so it holds regardless of market direction.