Tether Gold (XAUT) is 10956.1× the size of REM Token (REM) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.30 across 33 shared trading days). REM has been the more volatile of the two, at 116% annualised against XAUT's 24%.
REMXAUT
-0.30over 33 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 | REM | XAUT |
|---|---|---|
| Max drawdown (400d) | -15.6% | -19.4% |
| Risk-adjusted return (90d) | 0.28 | -0.20 |
Relative strength over 90 days: REM outperformed XAUT by 42.0% — measured on the REM/XAUT ratio, so it holds regardless of market direction.