Palladium Network vs Tether

Tether (USDT) is 5255.3× the size of Palladium Network (PLLDV3) by market capitalisation. Over the past 30 days, USDT is ahead by 8.0 percentage points (PLLDV3 -8.0% against USDT -0.1%). Their daily returns move barely together (correlation 0.11 across 46 shared trading days). PLLDV3 has been the more volatile of the two, at 169% annualised against USDT's 1%.

Correlation: 0.11
Size ratio: 1 : 5255.3
Ahead over 30 days: USDT

Palladium NetworkPLLDV3

$0.644386

24h: -0.26%
Market cap: $33.91M
Volume 24h: $2,141
Volatility (ann.): 169%

TetherUSDT

$0.999148

24h: +0.04%
Market cap: $178.22B
Volume 24h: $56.79B
Volatility (ann.): 1%

PLLDV3 0.0%Share of the two combined market caps100.0% USDT

Performance

PLLDV3USDT

7 days-8.53%+0.03%USDT
30 days-8.05%-0.08%USDT

Correlation

0.11over 46 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0890d: 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	PLLDV3	USDT
Max drawdown (400d)	-26.2%	-0.2%
Risk-adjusted return (90d)	0.29	-0.03

Relative strength over 90 days: PLLDV3 outperformed USDT by 49.4% — measured on the PLLDV3/USDT ratio, so it holds regardless of market direction.

Palladium Network →Tether →