Tether (USDT) is 7472641.4× the size of Eolas ☴ (EOLAS) by market capitalisation. Their daily returns move closely together (correlation 0.64 across 24 shared trading days). EOLAS has been the more volatile of the two, at 91% annualised against USDT's 1%.
EOLASUSDT
0.64over 24 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 | EOLAS | USDT |
|---|---|---|
| Max drawdown (400d) | -71.1% | -0.2% |
| Risk-adjusted return (90d) | -0.57 | -0.05 |
Relative strength over 90 days: USDT outperformed EOLAS by 7.7% — measured on the EOLAS/USDT ratio, so it holds regardless of market direction.