Defi-Ira vs Tether

Tether (USDT) is 182347.6× the size of Defi-Ira (IRA) by market capitalisation. Over the past 30 days, USDT is ahead by 8.6 percentage points (IRA -8.7% against USDT -0.1%). Their daily returns move barely together (correlation 0.30 across 28 shared trading days). IRA has been the more volatile of the two, at 61% annualised against USDT's 1%.

Correlation: 0.30
Size ratio: 1 : 182347.6
Ahead over 30 days: USDT

Defi-IraIRA

$0.004452

24h: -0.24%
Market cap: $977,633
Volume 24h: $95
Volatility (ann.): 61%

TetherUSDT

$0.999387

24h: +0.03%
Market cap: $178.27B
Volume 24h: $62.40B
Volatility (ann.): 1%

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

Performance

IRAUSDT

7 days-5.37%+0.03%USDT
30 days-8.70%-0.08%USDT

Correlation

0.30over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3090d: 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	IRA	USDT
Max drawdown (400d)	-21.2%	-0.2%
Risk-adjusted return (90d)	0.01	-0.03

Relative strength over 90 days: IRA outperformed USDT by 0.7% — measured on the IRA/USDT ratio, so it holds regardless of market direction.

Defi-Ira →Tether →