Tether (USDT) is 2164.4× the size of Pleasing Gold (PGOLD) by market capitalisation. Over the past 30 days, PGOLD is ahead by 741.8 percentage points (PGOLD +741.8% against USDT +0.0%). Their daily returns move barely together (correlation 0.04 across 23 shared trading days). PGOLD has been the more volatile of the two, at 7751% annualised against USDT's 0%.
| Period | PGOLD | USDT | Ahead |
|---|---|---|---|
| 7 days | -2.28% | -0.01% | USDT |
| 30 days | +741.84% | +0.05% | PGOLD |
| Metric | PGOLD | USDT |
|---|---|---|
| Max drawdown (400d) | -59.0% | -0.0% |
| Risk-adjusted return (90d) | 0.10 | 0.19 |
Relative strength over 90 days: PGOLD outperformed USDT by 745.1% — measured on the PGOLD/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.