OpenEden OpenDollar vs Tether

Tether (USDT) is 14011.3× the size of OpenEden OpenDollar (USDO) by market capitalisation. Over the past 30 days, USDO is ahead by 0.0 percentage points (USDO -0.1% against USDT -0.1%). Their daily returns move barely together (correlation 0.11 across 29 shared trading days). USDO has been the more volatile of the two, at 13512% annualised against USDT's 1%.

Correlation: 0.11
Size ratio: 1 : 14011.3
Ahead over 30 days: USDO

OpenEden OpenDollarUSDO

$0.996950

24h: —
Market cap: $12.72M
Volume 24h: $133
Volatility (ann.): 13512%

TetherUSDT

$0.999148

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

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

Performance

USDOUSDT

7 days-97.66%+0.03%USDT
30 days-0.06%-0.08%USDO

Correlation

0.11over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1190d: 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	USDO	USDT
Max drawdown (400d)	-97.7%	-0.2%
Risk-adjusted return (90d)	0.00	-0.03

Relative strength over 90 days: USDO outperformed USDT by 0.1% — measured on the USDO/USDT ratio, so it holds regardless of market direction.

OpenEden OpenDollar →Tether →