Magic Internet Money vs Tether

Tether (USDT) is 4701214.8× the size of Magic Internet Money (MIM) by market capitalisation. Over the past 30 days, USDT is ahead by 10.8 percentage points (MIM -10.8% against USDT -0.0%). Their daily returns move barely together (correlation 0.05 across 24 shared trading days). MIM has been the more volatile of the two, at 947% annualised against USDT's 1%.

Correlation: 0.05
Size ratio: 1 : 4701214.8
Ahead over 30 days: USDT

Magic Internet MoneyMIM

$3.778e-5

24h: -6.69%
Market cap: $37,778
Volume 24h: $1,866
Volatility (ann.): 947%

TetherUSDT

$0.999471

24h: +0.04%
Market cap: $177.60B
Volume 24h: $55.08B
Volatility (ann.): 1%

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

Performance

MIMUSDT

7 days+8.61%+0.03%MIM
30 days-10.80%-0.04%USDT

Correlation

0.05over 24 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	MIM	USDT
Max drawdown (400d)	-81.1%	-0.2%
Risk-adjusted return (90d)	0.00	0.03

Relative strength over 90 days: USDT outperformed MIM by 8.2% — measured on the MIM/USDT ratio, so it holds regardless of market direction.

Magic Internet Money →Tether →