Klima Protocol K2 vs Tether

Tether (USDT) is 183390.7× the size of Klima Protocol K2 (K2) by market capitalisation. Over the past 30 days, USDT is ahead by 5.0 percentage points (K2 -5.0% against USDT -0.0%). Their daily returns move barely together (correlation 0.02 across 23 shared trading days). K2 has been the more volatile of the two, at 177% annualised against USDT's 1%.

Correlation: 0.02
Size ratio: 1 : 183390.7
Ahead over 30 days: USDT

Klima Protocol K2K2

$0.021352

24h: —
Market cap: $972,068
Volume 24h: $203
Volatility (ann.): 177%

TetherUSDT

$0.999409

24h: +0.05%
Market cap: $178.27B
Volume 24h: $58.65B
Volatility (ann.): 1%

K2 0.0%Share of the two combined market caps100.0% USDT

Performance

K2USDT

7 days-16.81%+0.03%USDT
30 days-5.01%-0.04%USDT

Correlation

0.02over 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	K2	USDT
Max drawdown (400d)	-47.1%	-0.2%
Risk-adjusted return (90d)	0.01	0.03

Relative strength over 90 days: USDT outperformed K2 by 45.0% — measured on the K2/USDT ratio, so it holds regardless of market direction.

Klima Protocol K2 →Tether →