Tether (USDT) is 255.4× the size of GHO (GHO) by market capitalisation. Over the past 30 days, GHO is ahead by 0.0 percentage points (GHO +0.0% against USDT -0.0%). Their daily returns move closely together (correlation 0.84 across 59 shared trading days). GHO has been the more volatile of the two, at 1% annualised against USDT's 1%.
GHOUSDT
0.84over 59 shared trading days
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.
| Metric | GHO | USDT |
|---|---|---|
| Max drawdown (400d) | -0.2% | -0.2% |
| Risk-adjusted return (90d) | 0.02 | 0.03 |
Relative strength over 90 days: GHO outperformed USDT by 0.0% — measured on the GHO/USDT ratio, so it holds regardless of market direction.