Tether (USDT) is 1260.1× the size of OriginTrail (TRAC) by market capitalisation. Over the past 30 days, TRAC is ahead by 17.7 percentage points (TRAC +17.8% against USDT +0.0%). Their daily returns move barely together (correlation 0.32 across 30 shared trading days). TRAC has been the more volatile of the two, at 99% annualised against USDT's 0%.
| Period | TRAC | USDT | Ahead |
|---|---|---|---|
| 7 days | -4.27% | -0.01% | USDT |
| 30 days | +17.79% | +0.05% | TRAC |
| Metric | TRAC | USDT |
|---|---|---|
| Max drawdown (400d) | -16.4% | -0.0% |
| Risk-adjusted return (90d) | 0.18 | 0.19 |
Relative strength over 90 days: TRAC outperformed USDT by 18.2% — measured on the TRAC/USDT ratio, so it holds regardless of market direction.
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.