Arbitrove Governance Token vs Tether

Tether (USDT) is 369705.7× the size of Arbitrove Governance Token (TROVE) by market capitalisation. Over the past 30 days, USDT is ahead by 15.9 percentage points (TROVE -16.0% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.05 across 21 shared trading days). TROVE has been the more volatile of the two, at 45% annualised against USDT's 1%.

Correlation: -0.05
Size ratio: 1 : 369705.7
Ahead over 30 days: USDT

Arbitrove Governance TokenTROVE

$0.001607

24h: +0.80%
Market cap: $481,997
Volume 24h: $92
Volatility (ann.): 45%

TetherUSDT

$0.999009

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

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

Performance

TROVEUSDT

7 days-2.98%+0.03%USDT
30 days-16.02%-0.08%USDT

Correlation

-0.05over 21 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	TROVE	USDT
Max drawdown (400d)	-18.4%	-0.2%
Risk-adjusted return (90d)	-0.35	-0.03

Relative strength over 90 days: USDT outperformed TROVE by 10.8% — measured on the TROVE/USDT ratio, so it holds regardless of market direction.

Arbitrove Governance Token →Tether →