Propbase vs Tether Gold

Tether Gold (XAUT) is 1106.0× the size of Propbase (PROPS) by market capitalisation. Over the past 90 days, PROPS is ahead by 67.7 percentage points (PROPS +60.1% against XAUT -7.6%). Their daily returns move barely together (correlation 0.18 across 110 shared trading days). PROPS has been the more volatile of the two, at 65% annualised against XAUT's 24%.

Correlation: 0.18
Size ratio: 1 : 1106.0
Ahead over 90 days: PROPS

PropbasePROPS

$0.005550

24h: -0.22%
Market cap: $2.95M
Volume 24h: $605,380
Volatility (ann.): 65%

Tether GoldXAUT

$4,032.51

24h: +2.63%
Market cap: $3.26B
Volume 24h: $265.46M
Volatility (ann.): 24%

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

Performance

PROPSXAUT

7 days-2.63%-3.11%PROPS
30 days+25.36%-5.07%PROPS
90 days+60.10%-7.64%PROPS

Correlation

0.18over 110 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4190d: 0.181y: 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	PROPS	XAUT
Max drawdown (400d)	-25.4%	-19.4%
Risk-adjusted return (90d)	0.88	-0.36

Relative strength over 90 days: PROPS outperformed XAUT by 67.2% — measured on the PROPS/XAUT ratio, so it holds regardless of market direction.

Propbase →Tether Gold →