Mushu vs Tether

Tether (USDT) is 439570.1× the size of Mushu (MUSHU) by market capitalisation. Over the past 30 days, USDT is ahead by 33.3 percentage points (MUSHU -33.3% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.02 across 26 shared trading days). MUSHU has been the more volatile of the two, at 162% annualised against USDT's 1%.

Correlation: -0.02
Size ratio: 1 : 439570.1
Ahead over 30 days: USDT

MushuMUSHU

$0.002649

24h: -0.01%
Market cap: $405,448
Volume 24h: $27,168
Volatility (ann.): 162%

TetherUSDT

$0.999148

24h: +0.04%
Market cap: $178.22B
Volume 24h: $56.79B
Volatility (ann.): 1%

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

Performance

MUSHUUSDT

7 days-35.53%+0.03%USDT
30 days-33.35%-0.08%USDT

Correlation

-0.02over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0290d: 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	MUSHU	USDT
Max drawdown (400d)	-47.9%	-0.2%
Risk-adjusted return (90d)	-0.30	-0.03

Relative strength over 90 days: USDT outperformed MUSHU by 47.9% — measured on the MUSHU/USDT ratio, so it holds regardless of market direction.

Mushu →Tether →