xUSD vs Tether

Tether (USDT) is 1571228.0× the size of xUSD (XUSD) by market capitalisation. Over the past 30 days, XUSD is ahead by 0.1 percentage points (XUSD +0.0% against USDT -0.0%). Their daily returns move barely together (correlation 0.21 across 24 shared trading days). XUSD has been the more volatile of the two, at 3% annualised against USDT's 1%.

Correlation: 0.21
Size ratio: 1 : 1571228.0
Ahead over 30 days: XUSD

xUSDXUSD

$0.999782

24h: +0.04%
Market cap: $112,979
Volume 24h: $2,088
Volatility (ann.): 3%

TetherUSDT

$0.998963

24h: -0.04%
Market cap: $177.52B
Volume 24h: $61.96B
Volatility (ann.): 1%

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

Performance

XUSDUSDT

7 days-0.00%+0.03%USDT
30 days+0.03%-0.04%XUSD

Correlation

0.21over 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	XUSD	USDT
Max drawdown (400d)	-0.4%	-0.2%
Risk-adjusted return (90d)	0.00	0.03

Relative strength over 90 days: USDT outperformed XUSD by 0.0% — measured on the XUSD/USDT ratio, so it holds regardless of market direction.

xUSD →Tether →