Iron Bank EUR vs Tether

Tether (USDT) is 12381847.7× the size of Iron Bank EUR (IBEUR) by market capitalisation. Over the past 30 days, USDT is ahead by 12.9 percentage points (IBEUR -13.0% against USDT -0.0%). Their daily returns move barely together (correlation 0.09 across 20 shared trading days). IBEUR has been the more volatile of the two, at 55% annualised against USDT's 1%.

Correlation: 0.09
Size ratio: 1 : 12381847.7
Ahead over 30 days: USDT

Iron Bank EURIBEUR

$0.004779

24h: —
Market cap: $14,337
Volume 24h: $12
Volatility (ann.): 55%

TetherUSDT

$0.998994

24h: -0.04%
Market cap: $177.52B
Volume 24h: $62.28B
Volatility (ann.): 1%

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

Performance

IBEURUSDT

7 days+4.07%+0.03%IBEUR
30 days-12.98%-0.04%USDT

Correlation

0.09over 20 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	IBEUR	USDT
Max drawdown (400d)	-20.3%	-0.2%
Risk-adjusted return (90d)	-0.24	0.03

Relative strength over 90 days: USDT outperformed IBEUR by 6.2% — measured on the IBEUR/USDT ratio, so it holds regardless of market direction.

Iron Bank EUR →Tether →