SIX Network vs Tether

Tether (USDT) is 153076.1× the size of SIX Network (SIX) by market capitalisation. Over the past 30 days, SIX is ahead by 6.0 percentage points (SIX +5.9% against USDT -0.1%). Their daily returns move barely together (correlation 0.27 across 20 shared trading days). SIX has been the more volatile of the two, at 82% annualised against USDT's 1%.

Correlation: 0.27
Size ratio: 1 : 153076.1
Ahead over 30 days: SIX

SIX NetworkSIX

$0.004252

24h: -1.50%
Market cap: $1.16M
Volume 24h: $98,926
Volatility (ann.): 82%

TetherUSDT

$0.998947

24h: +0.03%
Market cap: $178.19B
Volume 24h: $48.71B
Volatility (ann.): 1%

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

Performance

SIXUSDT

7 days-9.39%+0.03%USDT
30 days+5.89%-0.08%SIX

Correlation

0.27over 20 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	SIX	USDT
Max drawdown (400d)	-14.7%	-0.2%
Risk-adjusted return (90d)	0.07	-0.03

Relative strength over 90 days: USDT outperformed SIX by 0.3% — measured on the SIX/USDT ratio, so it holds regardless of market direction.

SIX Network →Tether →