Ripple USD vs USDS

USDS (USDS) is 3.6× the size of Ripple USD (RLUSD) by market capitalisation. Over the past 90 days, RLUSD is ahead by 0.0 percentage points (RLUSD +0.1% against USDS +0.1%). Their daily returns move barely together (correlation 0.05 across 211 shared trading days). USDS has been the more volatile of the two, at 1% annualised against RLUSD's 0%.

Correlation: 0.05
Size ratio: 1 : 3.6
Ahead over 90 days: RLUSD

Ripple USDRLUSD

$1.0013

24h: +0.01%
Market cap: $2.67B
Volume 24h: $429.32M
Volatility (ann.): 0%

USDSUSDS

$1.0012

24h: -0.01%
Market cap: $9.51B
Volume 24h: $289.43M
Volatility (ann.): 1%

RLUSD 21.9%Share of the two combined market caps78.1% USDS

Performance

RLUSDUSDS

7 days-0.03%+0.39%USDS
30 days+0.14%+0.13%RLUSD
90 days+0.09%+0.08%RLUSD

Correlation

0.05over 211 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3290d: -0.161y: 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	RLUSD	USDS
Max drawdown (400d)	-0.2%	-0.4%
Risk-adjusted return (90d)	0.20	0.07

Relative strength over 90 days: RLUSD outperformed USDS by 0.0% — measured on the RLUSD/USDS ratio, so it holds regardless of market direction.

Ripple USD →USDS →