NodalWaves vs Tether

Tether (USDT) is 158715.9× the size of NodalWaves (NODAL) by market capitalisation. Over the past 30 days, USDT is ahead by 37.5 percentage points (NODAL -37.6% against USDT -0.1%). Their daily returns move loosely together (correlation 0.41 across 28 shared trading days). NODAL has been the more volatile of the two, at 113% annualised against USDT's 1%.

Correlation: 0.41
Size ratio: 1 : 158715.9
Ahead over 30 days: USDT

NodalWavesNODAL

$0.002068

24h: -1.56%
Market cap: $1.12M
Volume 24h: $2,284
Volatility (ann.): 113%

TetherUSDT

$0.999148

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

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

Performance

NODALUSDT

7 days-1.65%+0.03%USDT
30 days-37.61%-0.08%USDT

Correlation

0.41over 28 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	NODAL	USDT
Max drawdown (400d)	-44.7%	-0.2%
Risk-adjusted return (90d)	-0.39	-0.03

Relative strength over 90 days: USDT outperformed NODAL by 43.9% — measured on the NODAL/USDT ratio, so it holds regardless of market direction.

NodalWaves →Tether →