USDS (USDS) is 1949.4× the size of Send (SEND) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.41 across 34 shared trading days). SEND has been the more volatile of the two, at 35% annualised against USDS's 1%.
SENDUSDS
-0.41over 34 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 | SEND | USDS |
|---|---|---|
| Max drawdown (400d) | -21.1% | -0.4% |
| Risk-adjusted return (90d) | -0.28 | 0.01 |
Relative strength over 90 days: USDS outperformed SEND by 10.0% — measured on the SEND/USDS ratio, so it holds regardless of market direction.