IDRX vs Tether

Tether (USDT) is 174650.5× the size of IDRX (IDRX) by market capitalisation. Over the past 30 days, USDT is ahead by 3.1 percentage points (IDRX -3.1% against USDT -0.1%). Their daily returns move barely together (correlation 0.20 across 28 shared trading days). IDRX has been the more volatile of the two, at 8% annualised against USDT's 1%.

Correlation: 0.20
Size ratio: 1 : 174650.5
Ahead over 30 days: USDT

IDRXIDRX

$5.506e-5

24h: -0.14%
Market cap: $1.02M
Volume 24h: $4,620
Volatility (ann.): 8%

TetherUSDT

$0.999278

24h: +0.02%
Market cap: $178.25B
Volume 24h: $62.50B
Volatility (ann.): 1%

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

Performance

IDRXUSDT

7 days-0.22%+0.03%USDT
30 days-3.13%-0.08%USDT

Correlation

0.20over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2090d: 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	IDRX	USDT
Max drawdown (400d)	-3.6%	-0.2%
Risk-adjusted return (90d)	-0.38	-0.03

Relative strength over 90 days: USDT outperformed IDRX by 2.8% — measured on the IDRX/USDT ratio, so it holds regardless of market direction.

IDRX →Tether →