Nest vs Tether

Tether (USDT) is 22930163.9× the size of Nest (NEST) by market capitalisation. Over the past 30 days, USDT is ahead by 25.7 percentage points (NEST -25.8% against USDT -0.1%). Their daily returns move barely together (correlation 0.15 across 24 shared trading days). NEST has been the more volatile of the two, at 63% annualised against USDT's 1%.

Correlation: 0.15
Size ratio: 1 : 22930163.9
Ahead over 30 days: USDT

NestNEST

$7.910e-6

24h: -9.54%
Market cap: $7,744
Volume 24h: $31
Volatility (ann.): 63%

TetherUSDT

$0.998962

24h: -0.01%
Market cap: $177.56B
Volume 24h: $53.09B
Volatility (ann.): 1%

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

Performance

NESTUSDT

7 days-7.05%+0.07%USDT
30 days-25.83%-0.09%USDT

Correlation

0.15over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	NEST	USDT
Max drawdown (400d)	-32.6%	-0.2%
Risk-adjusted return (90d)	-0.52	-0.05

Relative strength over 90 days: USDT outperformed NEST by 21.7% — measured on the NEST/USDT ratio, so it holds regardless of market direction.

Nest →Tether →