The Fedz FUSD vs Tether

Tether (USDT) is 116865.3× the size of The Fedz FUSD (FUSD) by market capitalisation. Over the past 30 days, USDT is ahead by 0.4 percentage points (FUSD -0.4% against USDT -0.0%). Their daily returns move barely together (correlation 0.10 across 29 shared trading days). FUSD has been the more volatile of the two, at 8% annualised against USDT's 1%.

Correlation: 0.10
Size ratio: 1 : 116865.3
Ahead over 30 days: USDT

The Fedz FUSDFUSD

$0.947438

24h: -0.86%
Market cap: $1.53M
Volume 24h: $79
Volatility (ann.): 8%

TetherUSDT

$0.999382

24h: +0.04%
Market cap: $178.26B
Volume 24h: $63.30B
Volatility (ann.): 1%

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

Performance

FUSDUSDT

7 days-0.01%+0.03%USDT
30 days-0.43%-0.04%USDT

Correlation

0.10over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1090d: 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	FUSD	USDT
Max drawdown (400d)	-1.8%	-0.2%
Risk-adjusted return (90d)	-0.11	0.03

Relative strength over 90 days: USDT outperformed FUSD by 0.9% — measured on the FUSD/USDT ratio, so it holds regardless of market direction.

The Fedz FUSD →Tether →