USDS (USDS) is 1666405.8× the size of deployer (DEPLOYER) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.14 across 26 shared trading days). DEPLOYER has been the more volatile of the two, at 134% annualised against USDS's 1%.
DEPLOYERUSDS
-0.14over 26 shared trading days
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.
| Metric | DEPLOYER | USDS |
|---|---|---|
| Max drawdown (400d) | -33.2% | -0.4% |
| Risk-adjusted return (90d) | -0.24 | 0.00 |
Relative strength over 90 days: USDS outperformed DEPLOYER by 32.6% — measured on the DEPLOYER/USDS ratio, so it holds regardless of market direction.