Reign of Terror (REIGN) and Tether (USDT) compared side by side. Their daily returns move loosely in opposite directions (correlation -0.48 across 36 shared trading days). REIGN has been the more volatile of the two, at 256% annualised against USDT's 1%.
REIGNUSDT
-0.48over 36 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 | REIGN | USDT |
|---|---|---|
| Max drawdown (400d) | -97.3% | -0.2% |
| Risk-adjusted return (90d) | -0.24 | -0.03 |
Relative strength over 90 days: USDT outperformed REIGN by 74.7% — measured on the REIGN/USDT ratio, so it holds regardless of market direction.