CypherCat vs Tether

Tether (USDT) is 149186.7× the size of CypherCat (CYPHERCAT) by market capitalisation. Over the past 30 days, CYPHERCAT is ahead by 189.2 percentage points (CYPHERCAT +189.2% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.09 across 23 shared trading days). CYPHERCAT has been the more volatile of the two, at 562% annualised against USDT's 1%.

Correlation: -0.09
Size ratio: 1 : 149186.7
Ahead over 30 days: CYPHERCAT

CypherCatCYPHERCAT

$0.001195

24h: +28.09%
Market cap: $1.19M
Volume 24h: $11,740
Volatility (ann.): 562%

TetherUSDT

$0.998962

24h: +0.03%
Market cap: $178.19B
Volume 24h: $51.36B
Volatility (ann.): 1%

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

Performance

CYPHERCATUSDT

7 days+55.33%+0.03%CYPHERCAT
30 days+189.16%-0.08%CYPHERCAT

Correlation

-0.09over 23 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	CYPHERCAT	USDT
Max drawdown (400d)	-66.0%	-0.2%
Risk-adjusted return (90d)	0.06	-0.03

Relative strength over 90 days: CYPHERCAT outperformed USDT by 291.4% — measured on the CYPHERCAT/USDT ratio, so it holds regardless of market direction.

CypherCat →Tether →