Degen vs Tether

Tether (USDT) is 610064.8× the size of Degen (DGN) by market capitalisation. Over the past 30 days, USDT is ahead by 27.3 percentage points (DGN -27.4% against USDT -0.0%). Their daily returns move barely in opposite directions (correlation -0.29 across 24 shared trading days). DGN has been the more volatile of the two, at 58% annualised against USDT's 1%.

Correlation: -0.29
Size ratio: 1 : 610064.8
Ahead over 30 days: USDT

DegenDGN

$0.000292

24h: +5.62%
Market cap: $292,212
Volume 24h: $240
Volatility (ann.): 58%

TetherUSDT

$0.999409

24h: +0.05%
Market cap: $178.27B
Volume 24h: $58.65B
Volatility (ann.): 1%

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

Performance

DGNUSDT

7 days-3.05%+0.03%USDT
30 days-27.38%-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	DGN	USDT
Max drawdown (400d)	-29.1%	-0.2%
Risk-adjusted return (90d)	-0.43	0.03

Relative strength over 90 days: USDT outperformed DGN by 12.9% — measured on the DGN/USDT ratio, so it holds regardless of market direction.

Degen →Tether →