Opus CASH vs Tether

Tether (USDT) is 578386.6× the size of Opus CASH (CASH) by market capitalisation. Over the past 30 days, CASH is ahead by 3.5 percentage points (CASH +3.4% against USDT -0.0%). Their daily returns move barely in opposite directions (correlation -0.15 across 27 shared trading days). CASH has been the more volatile of the two, at 34% annualised against USDT's 1%.

Correlation: -0.15
Size ratio: 1 : 578386.6
Ahead over 30 days: CASH

Opus CASHCASH

$0.996814

24h: -0.42%
Market cap: $308,225
Volume 24h: $57,780
Volatility (ann.): 34%

TetherUSDT

$0.999436

24h: +0.06%
Market cap: $178.27B
Volume 24h: $57.38B
Volatility (ann.): 1%

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

Performance

CASHUSDT

7 days+0.15%+0.03%CASH
30 days+3.42%-0.04%CASH

Correlation

-0.15over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1590d: 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	CASH	USDT
Max drawdown (400d)	-5.5%	-0.2%
Risk-adjusted return (90d)	0.01	0.03

Relative strength over 90 days: CASH outperformed USDT by 0.2% — measured on the CASH/USDT ratio, so it holds regardless of market direction.

Opus CASH →Tether →