Marnotaur (TAUR) and Tether (USDT) compared side by side. Their daily returns move barely together (correlation 0.27 across 35 shared trading days). TAUR has been the more volatile of the two, at 191% annualised against USDT's 1%.
TAURUSDT
0.27over 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 | TAUR | USDT |
|---|---|---|
| Max drawdown (400d) | -92.0% | -0.2% |
| Risk-adjusted return (90d) | 0.04 | 0.03 |
Relative strength over 90 days: USDT outperformed TAUR by 8.8% — measured on the TAUR/USDT ratio, so it holds regardless of market direction.