OTC vs Tether

Tether (USDT) is 38102.5× the size of OTC (OTC) by market capitalisation. Over the past 30 days, OTC is ahead by 281.3 percentage points (OTC +281.3% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.13 across 21 shared trading days). OTC has been the more volatile of the two, at 1233% annualised against USDT's 1%.

Correlation: -0.13
Size ratio: 1 : 38102.5
Ahead over 30 days: OTC

OTCOTC

$0.007475

24h: -2.91%
Market cap: $4.68M
Volume 24h: $1.24M
Volatility (ann.): 1233%

TetherUSDT

$0.999272

24h: +0.04%
Market cap: $178.24B
Volume 24h: $58.30B
Volatility (ann.): 1%

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

Performance

OTCUSDT

7 days-55.33%+0.03%USDT
30 days+281.26%-0.08%OTC

Correlation

-0.13over 21 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	OTC	USDT
Max drawdown (400d)	-87.7%	-0.2%
Risk-adjusted return (90d)	0.23	-0.03

Relative strength over 90 days: OTC outperformed USDT by 274.4% — measured on the OTC/USDT ratio, so it holds regardless of market direction.

OTC →Tether →