Last USD vs Tether

Tether (USDT) is 56868.1× the size of Last USD (USDXL) by market capitalisation. Over the past 30 days, USDT is ahead by 1.0 percentage points (USDXL -1.1% against USDT -0.0%). Their daily returns move loosely together (correlation 0.39 across 31 shared trading days). USDXL has been the more volatile of the two, at 9% annualised against USDT's 1%.

Correlation: 0.39
Size ratio: 1 : 56868.1
Ahead over 30 days: USDT

Last USDUSDXL

$0.979682

24h: -0.16%
Market cap: $3.13M
Volume 24h: $2,177
Volatility (ann.): 9%

TetherUSDT

$0.999386

24h: +0.04%
Market cap: $178.26B
Volume 24h: $63.78B
Volatility (ann.): 1%

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

Performance

USDXLUSDT

7 days-0.54%+0.03%USDT
30 days-1.06%-0.04%USDT

Correlation

0.39over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3990d: 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	USDXL	USDT
Max drawdown (400d)	-2.5%	-0.2%
Risk-adjusted return (90d)	-0.12	0.03

Relative strength over 90 days: USDT outperformed USDXL by 1.0% — measured on the USDXL/USDT ratio, so it holds regardless of market direction.

Last USD →Tether →