SoulPeg USD vs Tether

Tether (USDT) is 26392.2× the size of SoulPeg USD (SPUSD) by market capitalisation. Over the past 30 days, USDT is ahead by 0.1 percentage points (SPUSD -0.1% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.07 across 32 shared trading days). SPUSD has been the more volatile of the two, at 19% annualised against USDT's 1%.

Correlation: -0.07
Size ratio: 1 : 26392.2
Ahead over 30 days: USDT

SoulPeg USDSPUSD

$1.0050

24h: +0.90%
Market cap: $6.75M
Volume 24h: $211
Volatility (ann.): 19%

TetherUSDT

$0.999003

24h: +0.03%
Market cap: $178.19B
Volume 24h: $48.44B
Volatility (ann.): 1%

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

Performance

SPUSDUSDT

7 days-0.01%+0.03%USDT
30 days-0.13%-0.08%USDT

Correlation

-0.07over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0890d: 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	SPUSD	USDT
Max drawdown (400d)	-2.7%	-0.2%
Risk-adjusted return (90d)	0.00	-0.03

Relative strength over 90 days: SPUSD outperformed USDT by 0.0% — measured on the SPUSD/USDT ratio, so it holds regardless of market direction.

SoulPeg USD →Tether →