Macropod vs Tether

Tether (USDT) is 85622.4× the size of Macropod (AUDM) by market capitalisation. Over the past 30 days, USDT is ahead by 2.5 percentage points (AUDM -2.5% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.09 across 30 shared trading days). AUDM has been the more volatile of the two, at 13% annualised against USDT's 1%.

Correlation: -0.09
Size ratio: 1 : 85622.4
Ahead over 30 days: USDT

MacropodAUDM

$0.696316

24h: -0.50%
Market cap: $2.08M
Volume 24h: $1.31M
Volatility (ann.): 13%

TetherUSDT

$0.999009

24h: +0.04%
Market cap: $178.20B
Volume 24h: $49.39B
Volatility (ann.): 1%

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

Performance

AUDMUSDT

7 days+0.00%+0.03%USDT
30 days-2.55%-0.08%USDT

Correlation

-0.09over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0990d: 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	AUDM	USDT
Max drawdown (400d)	-5.5%	-0.2%
Risk-adjusted return (90d)	-0.21	-0.03

Relative strength over 90 days: USDT outperformed AUDM by 2.5% — measured on the AUDM/USDT ratio, so it holds regardless of market direction.

Macropod →Tether →