Fire Protocol vs Tether

Tether (USDT) is 10424779.0× the size of Fire Protocol (FIRE) by market capitalisation. Over the past 30 days, USDT is ahead by 45.6 percentage points (FIRE -45.7% against USDT -0.1%). Their daily returns move barely together (correlation 0.03 across 20 shared trading days). FIRE has been the more volatile of the two, at 167% annualised against USDT's 1%.

Correlation: 0.03
Size ratio: 1 : 10424779.0
Ahead over 30 days: USDT

Fire ProtocolFIRE

$0.000170

24h: -16.29%
Market cap: $17,032
Volume 24h: $337
Volatility (ann.): 167%

TetherUSDT

$0.998937

24h: -0.04%
Market cap: $177.56B
Volume 24h: $67.91B
Volatility (ann.): 1%

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

Performance

FIREUSDT

7 days+9.32%+0.07%FIRE
30 days-45.66%-0.09%USDT

Correlation

0.03over 20 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	FIRE	USDT
Max drawdown (400d)	-54.6%	-0.2%
Risk-adjusted return (90d)	-0.27	-0.05

Relative strength over 90 days: USDT outperformed FIRE by 14.4% — measured on the FIRE/USDT ratio, so it holds regardless of market direction.

Fire Protocol →Tether →