Monetrix USD vs Tether

Tether (USDT) is 57954.9× the size of Monetrix USD (USDM) by market capitalisation. Over the past 30 days, USDM is ahead by 0.4 percentage points (USDM +0.4% against USDT -0.1%). Their daily returns move loosely in opposite directions (correlation -0.41 across 30 shared trading days). USDM has been the more volatile of the two, at 5% annualised against USDT's 1%.

Correlation: -0.41
Size ratio: 1 : 57954.9
Ahead over 30 days: USDM

Monetrix USDUSDM

$1.0000

24h: +0.11%
Market cap: $3.07M
Volume 24h: $81,294
Volatility (ann.): 5%

TetherUSDT

$0.999009

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

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

Performance

USDMUSDT

7 days-0.07%+0.03%USDT
30 days+0.36%-0.08%USDM

Correlation

-0.41over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4190d: 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	USDM	USDT
Max drawdown (400d)	-0.8%	-0.2%
Risk-adjusted return (90d)	0.04	-0.03

Relative strength over 90 days: USDM outperformed USDT by 0.3% — measured on the USDM/USDT ratio, so it holds regardless of market direction.

Monetrix USD →Tether →