Safepoint vs Tether

Tether (USDT) is 2031267.9× the size of Safepoint (SPT) by market capitalisation. Over the past 30 days, USDT is ahead by 29.9 percentage points (SPT -29.9% against USDT -0.0%). Their daily returns move loosely together (correlation 0.52 across 24 shared trading days). SPT has been the more volatile of the two, at 134% annualised against USDT's 1%.

Correlation: 0.52
Size ratio: 1 : 2031267.9
Ahead over 30 days: USDT

SafepointSPT

$0.000129

24h: +3.86%
Market cap: $87,765
Volume 24h: $17
Volatility (ann.): 134%

TetherUSDT

$0.999442

24h: +0.05%
Market cap: $178.27B
Volume 24h: $57.26B
Volatility (ann.): 1%

SPT 0.0%Share of the two combined market caps100.0% USDT

Performance

SPTUSDT

7 days-27.33%+0.03%USDT
30 days-29.93%-0.04%USDT

Correlation

0.52over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: insufficient data1y: 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	SPT	USDT
Max drawdown (400d)	-44.4%	-0.2%
Risk-adjusted return (90d)	-0.24	0.03

Relative strength over 90 days: USDT outperformed SPT by 43.8% — measured on the SPT/USDT ratio, so it holds regardless of market direction.

Safepoint →Tether →