Dragon's Egg vs Tether

Tether (USDT) is 163356.1× the size of Dragon's Egg (DREGG) by market capitalisation. Over the past 30 days, DREGG is ahead by 386.1 percentage points (DREGG +386.0% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.05 across 30 shared trading days). DREGG has been the more volatile of the two, at 1364% annualised against USDT's 1%.

Correlation: -0.05
Size ratio: 1 : 163356.1
Ahead over 30 days: DREGG

Dragon's EggDREGG

$0.001091

24h: +17.39%
Market cap: $1.09M
Volume 24h: $26,324
Volatility (ann.): 1364%

TetherUSDT

$0.999148

24h: +0.04%
Market cap: $178.22B
Volume 24h: $56.79B
Volatility (ann.): 1%

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

Performance

DREGGUSDT

7 days-5.18%+0.03%USDT
30 days+385.98%-0.08%DREGG

Correlation

-0.05over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0590d: 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	DREGG	USDT
Max drawdown (400d)	-64.6%	-0.2%
Risk-adjusted return (90d)	0.21	-0.03

Relative strength over 90 days: DREGG outperformed USDT by 285.3% — measured on the DREGG/USDT ratio, so it holds regardless of market direction.

Dragon's Egg →Tether →