High Yield USD (Base) vs Tether

Tether (USDT) is 3075090.8× the size of High Yield USD (Base) (HYUSD) by market capitalisation. Over the past 30 days, HYUSD is ahead by 0.9 percentage points (HYUSD +0.9% against USDT -0.0%). Their daily returns move loosely together (correlation 0.39 across 23 shared trading days). HYUSD has been the more volatile of the two, at 9% annualised against USDT's 1%.

Correlation: 0.39
Size ratio: 1 : 3075090.8
Ahead over 30 days: HYUSD

High Yield USD (Base)HYUSD

$1.1400

24h: —
Market cap: $57,727
Volume 24h: $12
Volatility (ann.): 9%

TetherUSDT

$0.998963

24h: -0.04%
Market cap: $177.52B
Volume 24h: $61.96B
Volatility (ann.): 1%

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

Performance

HYUSDUSDT

7 days+0.00%+0.03%USDT
30 days+0.88%-0.04%HYUSD

Correlation

0.39over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	HYUSD	USDT
Max drawdown (400d)	-1.7%	-0.2%
Risk-adjusted return (90d)	0.10	0.03

Relative strength over 90 days: HYUSD outperformed USDT by 0.9% — measured on the HYUSD/USDT ratio, so it holds regardless of market direction.

High Yield USD (Base) →Tether →