Purps vs Tether

Tether (USDT) is 1272945.1× the size of Purps (PURPS) by market capitalisation. Over the past 30 days, USDT is ahead by 79.3 percentage points (PURPS -79.3% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.33 across 23 shared trading days). PURPS has been the more volatile of the two, at 614% annualised against USDT's 1%.

Correlation: -0.33
Size ratio: 1 : 1272945.1
Ahead over 30 days: USDT

PurpsPURPS

$0.000162

24h: +6.27%
Market cap: $139,988
Volume 24h: $3,841
Volatility (ann.): 614%

TetherUSDT

$0.999009

24h: +0.04%
Market cap: $178.20B
Volume 24h: $49.39B
Volatility (ann.): 1%

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

Performance

PURPSUSDT

7 days-28.72%+0.03%USDT
30 days-79.35%-0.08%USDT

Correlation

-0.33over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	PURPS	USDT
Max drawdown (400d)	-84.1%	-0.2%
Risk-adjusted return (90d)	-0.10	-0.03

Relative strength over 90 days: USDT outperformed PURPS by 10.9% — measured on the PURPS/USDT ratio, so it holds regardless of market direction.

Purps →Tether →