SIMD vs Tether

Tether (USDT) is 820868.9× the size of SIMD (SIMD) by market capitalisation. Over the past 30 days, SIMD is ahead by 1.0 percentage points (SIMD +0.9% against USDT -0.0%). Their daily returns move barely together (correlation 0.01 across 27 shared trading days). SIMD has been the more volatile of the two, at 201% annualised against USDT's 1%.

Correlation: 0.01
Size ratio: 1 : 820868.9
Ahead over 30 days: SIMD

SIMDSIMD

$0.000217

24h: -3.29%
Market cap: $217,202
Volume 24h: $1,648
Volatility (ann.): 201%

TetherUSDT

$0.999555

24h: +0.05%
Market cap: $178.29B
Volume 24h: $57.16B
Volatility (ann.): 1%

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

Performance

SIMDUSDT

7 days-15.88%+0.03%USDT
30 days+0.94%-0.04%SIMD

Correlation

0.01over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0190d: 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	SIMD	USDT
Max drawdown (400d)	-33.6%	-0.2%
Risk-adjusted return (90d)	-0.15	0.03

Relative strength over 90 days: USDT outperformed SIMD by 29.9% — measured on the SIMD/USDT ratio, so it holds regardless of market direction.

SIMD →Tether →