Dynamic Crypto Index vs Tether

Tether (USDT) is 130950.6× the size of Dynamic Crypto Index (DCI) by market capitalisation. Over the past 30 days, USDT is ahead by 5.4 percentage points (DCI -5.5% against USDT -0.1%). Their daily returns move closely together (correlation 0.61 across 28 shared trading days). DCI has been the more volatile of the two, at 38% annualised against USDT's 1%.

Correlation: 0.61
Size ratio: 1 : 130950.6
Ahead over 30 days: USDT

Dynamic Crypto IndexDCI

$9,071.97

24h: -1.45%
Market cap: $1.36M
Volume 24h: $607
Volatility (ann.): 38%

TetherUSDT

$0.999009

24h: +0.04%
Market cap: $178.20B
Volume 24h: $49.39B
Volatility (ann.): 1%

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

Performance

DCIUSDT

7 days+1.33%+0.03%DCI
30 days-5.47%-0.08%USDT

Correlation

0.61over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6190d: 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	DCI	USDT
Max drawdown (400d)	-12.3%	-0.2%
Risk-adjusted return (90d)	-0.08	-0.03

Relative strength over 90 days: USDT outperformed DCI by 3.0% — measured on the DCI/USDT ratio, so it holds regardless of market direction.

Dynamic Crypto Index →Tether →