Gitcoin vs Tether
Gitcoin (GITCOIN) and Tether (USDT) compared side by side. Their daily returns move barely together (correlation 0.18 across 34 shared trading days). GITCOIN has been the more volatile of the two, at 118% annualised against USDT's 0%.
Performance
| Period | GITCOIN | USDT | Ahead |
|---|---|---|---|
| 7 days | -1.60% | +0.00% | USDT |
| 30 days | +2.56% | +0.01% | GITCOIN |
| 90 days | +30.00% | — | — |
| 1 year | -69.35% | — | — |
Risk & extremes
| Metric | GITCOIN | USDT |
|---|---|---|
| Max drawdown (400d) | -82.7% | -0.0% |
| Risk-adjusted return (90d) | 0.42 | 0.22 |
| Best 30 days (past year) | +130.8% | — |
| Worst 30 days (past year) | -58.5% | — |
Relative strength over 90 days: GITCOIN outperformed USDT by 6.2% — measured on the GITCOIN/USDT ratio, so it holds regardless of market direction.
Correlation
0.18over 34 shared trading days
7d: insufficient data30d: 0.1990d: 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.