Monitoring the Situation vs Tether

Tether (USDT) is 7289534.4× the size of Monitoring the Situation (MONITOR) by market capitalisation. Over the past 30 days, USDT is ahead by 16.5 percentage points (MONITOR -16.6% against USDT -0.1%). Their daily returns move barely together (correlation 0.18 across 25 shared trading days). MONITOR has been the more volatile of the two, at 117% annualised against USDT's 1%.

Correlation: 0.18
Size ratio: 1 : 7289534.4
Ahead over 30 days: USDT

Monitoring the SituationMONITOR

$2.453e-5

24h: -10.03%
Market cap: $24,359
Volume 24h: $348
Volatility (ann.): 117%

TetherUSDT

$0.998980

24h: -0.05%
Market cap: $177.57B
Volume 24h: $69.59B
Volatility (ann.): 1%

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

Performance

MONITORUSDT

7 days+0.50%+0.07%MONITOR
30 days-16.60%-0.09%USDT

Correlation

0.18over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1890d: 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	MONITOR	USDT
Max drawdown (400d)	-25.7%	-0.2%
Risk-adjusted return (90d)	-0.12	-0.05

Relative strength over 90 days: USDT outperformed MONITOR by 1.4% — measured on the MONITOR/USDT ratio, so it holds regardless of market direction.

Monitoring the Situation →Tether →