HOLD vs Tether

Tether (USDT) is 405325.3× the size of HOLD (EARN) by market capitalisation. Over the past 30 days, USDT is ahead by 36.4 percentage points (EARN -36.5% against USDT -0.1%). Their daily returns move barely together (correlation 0.07 across 23 shared trading days). EARN has been the more volatile of the two, at 143% annualised against USDT's 1%.

Correlation: 0.07
Size ratio: 1 : 405325.3
Ahead over 30 days: USDT

HOLDEARN

$0.001048

24h: -11.24%
Market cap: $439,773
Volume 24h: $205
Volatility (ann.): 143%

TetherUSDT

$0.999313

24h: +0.02%
Market cap: $178.25B
Volume 24h: $63.38B
Volatility (ann.): 1%

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

Performance

EARNUSDT

7 days-12.85%+0.03%USDT
30 days-36.49%-0.08%USDT

Correlation

0.07over 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	EARN	USDT
Max drawdown (400d)	-44.6%	-0.2%
Risk-adjusted return (90d)	-0.31	-0.03

Relative strength over 90 days: USDT outperformed EARN by 21.9% — measured on the EARN/USDT ratio, so it holds regardless of market direction.

HOLD →Tether →