Fjord Foundry vs Tether

Tether (USDT) is 368280.1× the size of Fjord Foundry (FJO) by market capitalisation. Over the past 30 days, USDT is ahead by 27.2 percentage points (FJO -27.3% against USDT -0.1%). Their daily returns move loosely together (correlation 0.50 across 23 shared trading days). FJO has been the more volatile of the two, at 106% annualised against USDT's 1%.

Correlation: 0.50
Size ratio: 1 : 368280.1
Ahead over 30 days: USDT

Fjord FoundryFJO

$0.008731

24h: +0.00%
Market cap: $483,852
Volume 24h: —
Volatility (ann.): 106%

TetherUSDT

$0.999003

24h: +0.03%
Market cap: $178.19B
Volume 24h: $48.44B
Volatility (ann.): 1%

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

Performance

FJOUSDT

7 days-32.40%+0.03%USDT
30 days-27.31%-0.08%USDT

Correlation

0.50over 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	FJO	USDT
Max drawdown (400d)	-34.6%	-0.2%
Risk-adjusted return (90d)	-0.26	-0.03

Relative strength over 90 days: USDT outperformed FJO by 27.6% — measured on the FJO/USDT ratio, so it holds regardless of market direction.

Fjord Foundry →Tether →