Smart MFG vs Tether

Tether (USDT) is 1170561.9× the size of Smart MFG (MFG) by market capitalisation. Over the past 30 days, USDT is ahead by 14.8 percentage points (MFG -14.8% against USDT -0.0%). Their daily returns move barely together (correlation 0.05 across 23 shared trading days). MFG has been the more volatile of the two, at 90% annualised against USDT's 1%.

Correlation: 0.05
Size ratio: 1 : 1170561.9
Ahead over 30 days: USDT

Smart MFGMFG

$0.000454

24h: +0.49%
Market cap: $152,298
Volume 24h: $8,145
Volatility (ann.): 90%

TetherUSDT

$0.999442

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

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

Performance

MFGUSDT

7 days-15.74%+0.03%USDT
30 days-14.83%-0.04%USDT

Correlation

0.05over 23 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	MFG	USDT
Max drawdown (400d)	-21.7%	-0.2%
Risk-adjusted return (90d)	-0.16	0.03

Relative strength over 90 days: USDT outperformed MFG by 14.7% — measured on the MFG/USDT ratio, so it holds regardless of market direction.

Smart MFG →Tether →