Hydrated Dollar vs Tether

Tether (USDT) is 14973.2× the size of Hydrated Dollar (HOLLAR) by market capitalisation. Over the past 30 days, USDT is ahead by 0.2 percentage points (HOLLAR -0.3% against USDT -0.1%). Their daily returns move barely together (correlation 0.23 across 22 shared trading days). HOLLAR has been the more volatile of the two, at 3% annualised against USDT's 1%.

Correlation: 0.23
Size ratio: 1 : 14973.2
Ahead over 30 days: USDT

Hydrated DollarHOLLAR

$0.996377

24h: -0.01%
Market cap: $11.90M
Volume 24h: $465,939
Volatility (ann.): 3%

TetherUSDT

$0.999148

24h: +0.04%
Market cap: $178.22B
Volume 24h: $56.79B
Volatility (ann.): 1%

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

Performance

HOLLARUSDT

7 days-0.31%+0.03%USDT
30 days-0.30%-0.08%USDT

Correlation

0.23over 22 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	HOLLAR	USDT
Max drawdown (400d)	-0.5%	-0.2%
Risk-adjusted return (90d)	-0.09	-0.03

Relative strength over 90 days: USDT outperformed HOLLAR by 0.3% — measured on the HOLLAR/USDT ratio, so it holds regardless of market direction.

Hydrated Dollar →Tether →