POWERCITY WATT (WATT) and Tether (USDT) compared side by side. Their daily returns move closely together (correlation 0.61 across 39 shared trading days). WATT has been the more volatile of the two, at 272% annualised against USDT's 1%.
WATTUSDT
0.61over 39 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 | WATT | USDT |
|---|---|---|
| Max drawdown (400d) | -100.0% | -0.2% |
| Risk-adjusted return (90d) | -0.42 | -0.03 |
Relative strength over 90 days: USDT outperformed WATT by 100.0% — measured on the WATT/USDT ratio, so it holds regardless of market direction.