Opal vs Tether

Tether (USDT) is 567214.8× the size of Opal (OPAL) by market capitalisation. Over the past 30 days, USDT is ahead by 48.5 percentage points (OPAL -48.6% against USDT -0.0%). Their daily returns move closely together (correlation 0.61 across 24 shared trading days). OPAL has been the more volatile of the two, at 175% annualised against USDT's 1%.

Correlation: 0.61
Size ratio: 1 : 567214.8
Ahead over 30 days: USDT

OpalOPAL

$0.000314

24h: +12.58%
Market cap: $314,321
Volume 24h: $3,642
Volatility (ann.): 175%

TetherUSDT

$0.999517

24h: +0.05%
Market cap: $178.29B
Volume 24h: $56.20B
Volatility (ann.): 1%

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

Performance

OPALUSDT

7 days+5.71%+0.03%OPAL
30 days-48.58%-0.04%USDT

Correlation

0.61over 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	OPAL	USDT
Max drawdown (400d)	-60.9%	-0.2%
Risk-adjusted return (90d)	-0.16	0.03

Relative strength over 90 days: USDT outperformed OPAL by 22.0% — measured on the OPAL/USDT ratio, so it holds regardless of market direction.

Opal →Tether →