USDS (USDS) is 39126.7× the size of Prisma mkUSD (MKUSD) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.18 across 35 shared trading days). MKUSD has been the more volatile of the two, at 1% annualised against USDS's 1%.
MKUSDUSDS
-0.18over 35 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 | MKUSD | USDS |
|---|---|---|
| Max drawdown (400d) | -0.2% | -0.4% |
| Risk-adjusted return (90d) | -0.06 | 0.00 |
Relative strength over 90 days: USDS outperformed MKUSD by 0.1% — measured on the MKUSD/USDS ratio, so it holds regardless of market direction.