Electronic USD vs Tether

Tether (USDT) is 7253.6× the size of Electronic USD (EUSD) by market capitalisation. Over the past 30 days, EUSD is ahead by 0.2 percentage points (EUSD +0.1% against USDT -0.1%). Their daily returns move loosely in opposite directions (correlation -0.37 across 32 shared trading days). EUSD has been the more volatile of the two, at 5% annualised against USDT's 1%.

Correlation: -0.37
Size ratio: 1 : 7253.6
Ahead over 30 days: EUSD

Electronic USDEUSD

$0.999192

24h: +0.01%
Market cap: $24.57M
Volume 24h: $94,297
Volatility (ann.): 5%

TetherUSDT

$0.999299

24h: +0.03%
Market cap: $178.24B
Volume 24h: $60.79B
Volatility (ann.): 1%

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

Performance

EUSDUSDT

7 days-0.32%+0.03%USDT
30 days+0.14%-0.08%EUSD

Correlation

-0.37over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3890d: 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	EUSD	USDT
Max drawdown (400d)	-1.2%	-0.2%
Risk-adjusted return (90d)	-0.02	-0.03

Relative strength over 90 days: USDT outperformed EUSD by 0.0% — measured on the EUSD/USDT ratio, so it holds regardless of market direction.

Electronic USD →Tether →