Tether Gold (XAUT) is 15497.2× the size of Planet Token (PLANET) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 198 shared trading days). PLANET has been the more volatile of the two, at 97% annualised against XAUT's 24%.
PLANETXAUT
0.36over 198 shared trading days
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.
| Metric | PLANET | XAUT |
|---|---|---|
| Max drawdown (400d) | -80.3% | -19.4% |
| Risk-adjusted return (90d) | -0.38 | -0.20 |
| Best 30 days (past year) | +150.0% | — |
| Worst 30 days (past year) | -55.3% | — |
Relative strength over 90 days: XAUT outperformed PLANET by 39.3% — measured on the PLANET/XAUT ratio, so it holds regardless of market direction.