Tether Gold (XAUT) is 64.4× the size of Rnt (RNT) by market capitalisation. Their daily returns move barely together (correlation 0.10 across 53 shared trading days). Both have run at a similar volatility, around 22% annualised.
RNTXAUT
0.10over 53 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 | RNT | XAUT |
|---|---|---|
| Max drawdown (400d) | -1.3% | -19.4% |
| Risk-adjusted return (90d) | 1.07 | -0.36 |
Relative strength over 90 days: RNT outperformed XAUT by 42.7% — measured on the RNT/XAUT ratio, so it holds regardless of market direction.