Polytrade vs Tether Gold

Tether Gold (XAUT) is 1317.4× the size of Polytrade (TRADE) by market capitalisation. Over the past 90 days, XAUT is ahead by 22.5 percentage points (TRADE -30.2% against XAUT -7.6%). Their daily returns move barely together (correlation 0.31 across 110 shared trading days). TRADE has been the more volatile of the two, at 144% annualised against XAUT's 24%.

Correlation: 0.31
Size ratio: 1 : 1317.4
Ahead over 90 days: XAUT

PolytradeTRADE

$0.024861

24h: -3.51%
Market cap: $2.49M
Volume 24h: $223,360
Volatility (ann.): 144%

Tether GoldXAUT

$4,051.03

24h: +3.17%
Market cap: $3.28B
Volume 24h: $257.98M
Volatility (ann.): 24%

TRADE 0.1%Share of the two combined market caps99.9% XAUT

Performance

TRADEXAUT

7 days-12.42%-3.11%XAUT
30 days-30.08%-5.07%XAUT
90 days-30.18%-7.64%XAUT

Correlation

0.31over 110 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5990d: 0.321y: 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	TRADE	XAUT
Max drawdown (400d)	-61.9%	-19.4%
Risk-adjusted return (90d)	-0.19	-0.36

Relative strength over 90 days: XAUT outperformed TRADE by 27.1% — measured on the TRADE/XAUT ratio, so it holds regardless of market direction.

Polytrade →Tether Gold →