Pharaoh vs Tether

Tether (USDT) is 82862.5× the size of Pharaoh (PHAR) by market capitalisation. Over the past 30 days, PHAR is ahead by 1.2 percentage points (PHAR +1.2% against USDT -0.1%). Their daily returns move barely together (correlation 0.15 across 28 shared trading days). PHAR has been the more volatile of the two, at 216% annualised against USDT's 1%.

Correlation: 0.15
Size ratio: 1 : 82862.5
Ahead over 30 days: PHAR

PharaohPHAR

$0.050071

24h: -0.05%
Market cap: $2.15M
Volume 24h: $35,844
Volatility (ann.): 216%

TetherUSDT

$0.999031

24h: +0.04%
Market cap: $178.20B
Volume 24h: $49.20B
Volatility (ann.): 1%

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

Performance

PHARUSDT

7 days-7.97%+0.03%USDT
30 days+1.15%-0.08%PHAR

Correlation

0.15over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1590d: 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	PHAR	USDT
Max drawdown (400d)	-53.8%	-0.2%
Risk-adjusted return (90d)	0.16	-0.03

Relative strength over 90 days: PHAR outperformed USDT by 34.2% — measured on the PHAR/USDT ratio, so it holds regardless of market direction.

Pharaoh →Tether →