Tether (USDT) is 3647.8× the size of Ozapay (OZA) by market capitalisation. Over the past 30 days, OZA is ahead by 10.0 percentage points (OZA +10.1% against USDT +0.0%). Their daily returns move closely together (correlation 0.61 across 27 shared trading days). OZA has been the more volatile of the two, at 68% annualised against USDT's 0%.
| Period | OZA | USDT | Ahead |
|---|---|---|---|
| 7 days | +4.63% | -0.01% | OZA |
| 30 days | +10.08% | +0.05% | OZA |
| Metric | OZA | USDT |
|---|---|---|
| Max drawdown (400d) | -11.4% | -0.0% |
| Risk-adjusted return (90d) | 0.15 | 0.19 |
Relative strength over 90 days: OZA outperformed USDT by 2.8% — measured on the OZA/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.