Rage Protocol vs Tether

Tether (USDT) is 384154.9× the size of Rage Protocol (RAGE) by market capitalisation. Over the past 30 days, USDT is ahead by 17.9 percentage points (RAGE -17.9% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.18 across 23 shared trading days). RAGE has been the more volatile of the two, at 17% annualised against USDT's 1%.

Correlation: -0.18
Size ratio: 1 : 384154.9
Ahead over 30 days: USDT

Rage ProtocolRAGE

$6.1900

24h: +0.10%
Market cap: $463,856
Volume 24h: $43
Volatility (ann.): 17%

TetherUSDT

$0.998961

24h: +0.03%
Market cap: $178.19B
Volume 24h: $49.81B
Volatility (ann.): 1%

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

Performance

RAGEUSDT

7 days-1.61%+0.03%USDT
30 days-17.94%-0.08%USDT

Correlation

-0.18over 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	RAGE	USDT
Max drawdown (400d)	-18.1%	-0.2%
Risk-adjusted return (90d)	-1.04	-0.03

Relative strength over 90 days: USDT outperformed RAGE by 10.8% — measured on the RAGE/USDT ratio, so it holds regardless of market direction.

Rage Protocol →Tether →