Deflationary USD vs Tether

Tether (USDT) is 1402610.6× the size of Deflationary USD (DUSD) by market capitalisation. Over the past 30 days, USDT is ahead by 7.6 percentage points (DUSD -7.6% against USDT -0.0%). Their daily returns move barely together (correlation 0.32 across 24 shared trading days). DUSD has been the more volatile of the two, at 89% annualised against USDT's 1%.

Correlation: 0.32
Size ratio: 1 : 1402610.6
Ahead over 30 days: USDT

Deflationary USDDUSD

$0.000196

24h: +9.41%
Market cap: $127,101
Volume 24h: $2,827
Volatility (ann.): 89%

TetherUSDT

$0.999436

24h: +0.06%
Market cap: $178.27B
Volume 24h: $57.38B
Volatility (ann.): 1%

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

Performance

DUSDUSDT

7 days-2.64%+0.03%USDT
30 days-7.65%-0.04%USDT

Correlation

0.32over 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	DUSD	USDT
Max drawdown (400d)	-22.6%	-0.2%
Risk-adjusted return (90d)	-0.15	0.03

Relative strength over 90 days: DUSD outperformed USDT by 6.7% — measured on the DUSD/USDT ratio, so it holds regardless of market direction.

Deflationary USD →Tether →