FAIRLAUNCH vs Tether

Tether (USDT) is 12171904.3× the size of FAIRLAUNCH (FLX) by market capitalisation. Over the past 30 days, USDT is ahead by 68.2 percentage points (FLX -68.3% against USDT -0.1%). Their daily returns move barely together (correlation 0.02 across 23 shared trading days). FLX has been the more volatile of the two, at 211% annualised against USDT's 1%.

Correlation: 0.02
Size ratio: 1 : 12171904.3
Ahead over 30 days: USDT

FAIRLAUNCHFLX

$0.000146

24h: -1.98%
Market cap: $14,645
Volume 24h: $107
Volatility (ann.): 211%

TetherUSDT

$0.999398

24h: +0.04%
Market cap: $178.26B
Volume 24h: $64.34B
Volatility (ann.): 1%

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

Performance

FLXUSDT

7 days-6.17%+0.03%USDT
30 days-68.28%-0.08%USDT

Correlation

0.02over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	FLX	USDT
Max drawdown (400d)	-76.3%	-0.2%
Risk-adjusted return (90d)	-0.36	-0.03

Relative strength over 90 days: USDT outperformed FLX by 62.5% — measured on the FLX/USDT ratio, so it holds regardless of market direction.

FAIRLAUNCH →Tether →