FXArbUSDTRY vs Tether Gold

Tether Gold (XAUT) is 1074.7× the size of FXArbUSDTRY (FXARBUSDTRY) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.60 across 40 shared trading days). XAUT has been the more volatile of the two, at 24% annualised against FXARBUSDTRY's 3%.

Correlation: -0.60
Size ratio: 1 : 1074.7

FXArbUSDTRYFXARBUSDTRY

$0.087828

24h: +0.15%
Market cap: $3.02M
Volume 24h: $20
Volatility (ann.): 3%

Tether GoldXAUT

$4,022.54

24h: +2.59%
Market cap: $3.25B
Volume 24h: $256.78M
Volatility (ann.): 24%

FXARBUSDTRY 0.1%Share of the two combined market caps99.9% XAUT

Performance

FXARBUSDTRYXAUT

7 days+0.19%-3.11%FXARBUSDTRY
30 days+2.11%-5.07%FXARBUSDTRY
90 days—-7.64%—

Correlation

-0.60over 40 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.6590d: 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	FXARBUSDTRY	XAUT
Max drawdown (400d)	-0.1%	-19.4%
Risk-adjusted return (90d)	1.00	-0.36

Relative strength over 90 days: FXARBUSDTRY outperformed XAUT by 15.9% — measured on the FXARBUSDTRY/XAUT ratio, so it holds regardless of market direction.

FXArbUSDTRY →Tether Gold →