Tether Gold (XAUT) is 1976.9× the size of SilverTimes Token (STT) by market capitalisation. Their daily returns move very closely together (correlation 0.85 across 34 shared trading days). STT has been the more volatile of the two, at 59% annualised against XAUT's 24%.
STTXAUT
0.85over 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 | STT | XAUT |
|---|---|---|
| Max drawdown (400d) | -24.7% | -19.4% |
| Risk-adjusted return (90d) | -0.40 | -0.36 |
Relative strength over 90 days: XAUT outperformed STT by 12.5% — measured on the STT/XAUT ratio, so it holds regardless of market direction.