Tether (USDT) is 1636557.6× the size of PEAKDEFI (PEAK) by market capitalisation. Their daily returns move closely together (correlation 0.82 across 35 shared trading days). PEAK has been the more volatile of the two, at 141% annualised against USDT's 1%.
PEAKUSDT
0.82over 35 shared trading days
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.
| Metric | PEAK | USDT |
|---|---|---|
| Max drawdown (400d) | -90.0% | -0.2% |
| Risk-adjusted return (90d) | -0.47 | 0.03 |
Relative strength over 90 days: USDT outperformed PEAK by 86.6% — measured on the PEAK/USDT ratio, so it holds regardless of market direction.