Pairex vs Tether

Tether (USDT) is 22957737.6× the size of Pairex (PAIREX) by market capitalisation. Over the past 30 days, USDT is ahead by 30.4 percentage points (PAIREX -30.5% against USDT -0.1%). Their daily returns move loosely together (correlation 0.40 across 23 shared trading days). PAIREX has been the more volatile of the two, at 121% annualised against USDT's 1%.

Correlation: 0.40
Size ratio: 1 : 22957737.6
Ahead over 30 days: USDT

PairexPAIREX

$9.000e-6

24h: -1.03%
Market cap: $7,762
Volume 24h: $22
Volatility (ann.): 121%

TetherUSDT

$0.999009

24h: +0.04%
Market cap: $178.20B
Volume 24h: $49.39B
Volatility (ann.): 1%

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

Performance

PAIREXUSDT

7 days-9.51%+0.03%USDT
30 days-30.53%-0.08%USDT

Correlation

0.40over 23 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	PAIREX	USDT
Max drawdown (400d)	-30.5%	-0.2%
Risk-adjusted return (90d)	-0.25	-0.03

Relative strength over 90 days: USDT outperformed PAIREX by 15.3% — measured on the PAIREX/USDT ratio, so it holds regardless of market direction.

Pairex →Tether →