Ethereum (ETH) is 74.1× the size of USD1 (USD1) by market capitalisation. Over the past 1 year, USD1 is ahead by 36.9 percentage points (ETH -36.9% against USD1 +0.0%). Their daily returns move barely together (correlation 0.02 across 399 shared trading days). ETH has been the more volatile of the two, at 62% annualised against USD1's 1%.
ETHUSD1
0.02over 399 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 | ETH | USD1 |
|---|---|---|
| Max drawdown (400d) | -66.5% | -0.4% |
| Risk-adjusted return (90d) | 0.36 | -0.12 |
| Best 30 days (past year) | +34.1% | +0.3% |
| Worst 30 days (past year) | -44.6% | -0.2% |
Relative strength over 90 days: ETH outperformed USD1 by 19.2% — measured on the ETH/USD1 ratio, so it holds regardless of market direction.