HEFE vs Tether

Tether (USDT) is 228885.2× the size of HEFE (HEFE) by market capitalisation. Over the past 30 days, HEFE is ahead by 0.1 percentage points (HEFE +0.1% against USDT -0.1%). Their daily returns move barely together (correlation 0.28 across 28 shared trading days). HEFE has been the more volatile of the two, at 169% annualised against USDT's 1%.

Correlation: 0.28
Size ratio: 1 : 228885.2
Ahead over 30 days: HEFE

HEFEHEFE

$0.001778

24h: +0.13%
Market cap: $778,557
Volume 24h: $310
Volatility (ann.): 169%

TetherUSDT

$0.999031

24h: +0.04%
Market cap: $178.20B
Volume 24h: $49.20B
Volatility (ann.): 1%

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

Performance

HEFEUSDT

7 days-3.23%+0.03%USDT
30 days+0.06%-0.08%HEFE

Correlation

0.28over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2890d: 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	HEFE	USDT
Max drawdown (400d)	-42.4%	-0.2%
Risk-adjusted return (90d)	0.03	-0.03

Relative strength over 90 days: HEFE outperformed USDT by 5.8% — measured on the HEFE/USDT ratio, so it holds regardless of market direction.

HEFE →Tether →