Precious Metals USD vs Tether

Tether (USDT) is 3489.0× the size of Precious Metals USD (PMUSD) by market capitalisation. Over the past 30 days, PMUSD is ahead by 6.1 percentage points (PMUSD +6.0% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.29 across 50 shared trading days). PMUSD has been the more volatile of the two, at 209% annualised against USDT's 1%.

Correlation: -0.29
Size ratio: 1 : 3489.0
Ahead over 30 days: PMUSD

Precious Metals USDPMUSD

$0.572460

24h: -1.61%
Market cap: $51.09M
Volume 24h: $3,043
Volatility (ann.): 209%

TetherUSDT

$0.999278

24h: +0.02%
Market cap: $178.25B
Volume 24h: $62.50B
Volatility (ann.): 1%

PMUSD 0.0%Share of the two combined market caps100.0% USDT

Performance

PMUSDUSDT

7 days-10.42%+0.03%USDT
30 days+5.98%-0.08%PMUSD

Correlation

-0.29over 50 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2990d: insufficient data1y: 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	PMUSD	USDT
Max drawdown (400d)	-28.9%	-0.2%
Risk-adjusted return (90d)	-0.02	-0.03

Relative strength over 90 days: USDT outperformed PMUSD by 3.2% — measured on the PMUSD/USDT ratio, so it holds regardless of market direction.

Precious Metals USD →Tether →