Tether (USDT) is 446.1× the size of Pons (PONS) by market capitalisation. Over the past 30 days, PONS is ahead by 2096.3 percentage points (PONS +2096.4% against USDT +0.0%). Their daily returns move barely together (correlation 0.16 across 31 shared trading days). PONS has been the more volatile of the two, at 440% annualised against USDT's 0%.
| Period | PONS | USDT | Ahead |
|---|---|---|---|
| 7 days | -23.21% | -0.01% | USDT |
| 30 days | +2096.36% | +0.05% | PONS |
| Metric | PONS | USDT |
|---|---|---|
| Max drawdown (400d) | -36.0% | -0.0% |
| Risk-adjusted return (90d) | 4.76 | 0.19 |
Relative strength over 90 days: PONS outperformed USDT by 2095.3% — measured on the PONS/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.