USDS (USDS) is 25.7× the size of Re Protocol reUSD (REUSD) by market capitalisation. Their daily returns move barely together (correlation 0.18 across 58 shared trading days). REUSD has been the more volatile of the two, at 2% annualised against USDS's 1%.
REUSDUSDS
0.18over 58 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 | REUSD | USDS |
|---|---|---|
| Max drawdown (400d) | -0.1% | -0.4% |
| Risk-adjusted return (90d) | 0.53 | 0.01 |
Relative strength over 90 days: REUSD outperformed USDS by 1.3% — measured on the REUSD/USDS ratio, so it holds regardless of market direction.