Dohrnii (DHN) and Tether (USDT) compared side by side. Over the past 30 days, DHN is ahead by 47.2 percentage points (DHN +47.1% against USDT -0.1%). Their daily returns move barely together (correlation 0.13 across 23 shared trading days). DHN has been the more volatile of the two, at 1495% annualised against USDT's 1%.
DHNUSDT
0.13over 23 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 | DHN | USDT |
|---|---|---|
| Max drawdown (400d) | -8.3% | -0.2% |
| Risk-adjusted return (90d) | 0.47 | -0.03 |
Relative strength over 90 days: USDT outperformed DHN by 1.6% — measured on the DHN/USDT ratio, so it holds regardless of market direction.