IGRA vs Tether
Tether (USDT) is 657024.8× the size of IGRA (IGRA) by market capitalisation. Over the past 30 days, USDT is ahead by 23.5 percentage points (IGRA -23.5% against USDT +0.0%). Their daily returns move barely together (correlation 0.09 across 21 shared trading days). IGRA has been the more volatile of the two, at 737% annualised against USDT's 0%.
Performance
| Period | IGRA | USDT | Ahead |
|---|---|---|---|
| 7 days | +0.14% | -0.01% | IGRA |
| 30 days | -23.46% | +0.00% | USDT |
Risk & extremes
| Metric | IGRA | USDT |
|---|---|---|
| Max drawdown (400d) | -59.0% | -0.0% |
| Risk-adjusted return (90d) | -0.03 | 0.20 |
Relative strength over 90 days: USDT outperformed IGRA by 26.0% — measured on the IGRA/USDT ratio, so it holds regardless of market direction.
Correlation
0.09over 21 shared trading days
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.