DeFi Growth Index vs Tether

Tether (USDT) is 3391524.1× the size of DeFi Growth Index (DGI) by market capitalisation. Over the past 30 days, USDT is ahead by 18.3 percentage points (DGI -18.3% against USDT -0.0%). Their daily returns move barely together (correlation 0.29 across 24 shared trading days). DGI has been the more volatile of the two, at 77% annualised against USDT's 1%.

Correlation: 0.29
Size ratio: 1 : 3391524.1
Ahead over 30 days: USDT

DeFi Growth IndexDGI

$0.691850

24h: +6.32%
Market cap: $52,341
Volume 24h: $22,764
Volatility (ann.): 77%

TetherUSDT

$0.998963

24h: -0.04%
Market cap: $177.52B
Volume 24h: $61.96B
Volatility (ann.): 1%

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

Performance

DGIUSDT

7 days-0.29%+0.03%USDT
30 days-18.31%-0.04%USDT

Correlation

0.29over 24 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	DGI	USDT
Max drawdown (400d)	-25.1%	-0.2%
Risk-adjusted return (90d)	-0.15	0.03

Relative strength over 90 days: USDT outperformed DGI by 10.3% — measured on the DGI/USDT ratio, so it holds regardless of market direction.

DeFi Growth Index →Tether →