USDS (USDS) is 11395.8× the size of Glo Dollar (USDGLO) by market capitalisation. Their daily returns move barely together (correlation 0.02 across 36 shared trading days). USDGLO has been the more volatile of the two, at 4% annualised against USDS's 1%.
USDGLOUSDS
0.02over 36 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 | USDGLO | USDS |
|---|---|---|
| Max drawdown (400d) | -1.0% | -0.4% |
| Risk-adjusted return (90d) | -0.04 | 0.01 |
Relative strength over 90 days: USDS outperformed USDGLO by 0.2% — measured on the USDGLO/USDS ratio, so it holds regardless of market direction.