eUSD vs Tether

Tether (USDT) is 17506.8× the size of eUSD (EUSD) by market capitalisation. Over the past 30 days, EUSD is ahead by 0.1 percentage points (EUSD +0.0% against USDT -0.1%). Their daily returns move barely together (correlation 0.06 across 32 shared trading days). EUSD has been the more volatile of the two, at 2% annualised against USDT's 1%.

Correlation: 0.06
Size ratio: 1 : 17506.8
Ahead over 30 days: EUSD

eUSDEUSD

$0.999087

24h: -0.13%
Market cap: $10.18M
Volume 24h: $1.22M
Volatility (ann.): 2%

TetherUSDT

$0.999387

24h: +0.03%
Market cap: $178.27B
Volume 24h: $62.40B
Volatility (ann.): 1%

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

Performance

EUSDUSDT

7 days-0.00%+0.03%USDT
30 days+0.01%-0.08%EUSD

Correlation

0.06over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0690d: 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)	-0.8%	-0.2%
Risk-adjusted return (90d)	0.00	-0.03

Relative strength over 90 days: EUSD outperformed USDT by 0.1% — measured on the EUSD/USDT ratio, so it holds regardless of market direction.

eUSD →Tether →