SpaceChain (ERC-20) vs Tether

Tether (USDT) is 39888.4× the size of SpaceChain (ERC-20) (SPC) by market capitalisation. Over the past 30 days, USDT is ahead by 13.5 percentage points (SPC -13.6% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.24 across 32 shared trading days). SPC has been the more volatile of the two, at 65% annualised against USDT's 1%.

Correlation: -0.24
Size ratio: 1 : 39888.4
Ahead over 30 days: USDT

SpaceChain (ERC-20)SPC

$0.007399

24h: -6.63%
Market cap: $4.47M
Volume 24h: $6,874
Volatility (ann.): 65%

TetherUSDT

$0.998905

24h: +0.03%
Market cap: $178.18B
Volume 24h: $49.52B
Volatility (ann.): 1%

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

Performance

SPCUSDT

7 days-6.94%+0.03%USDT
30 days-13.61%-0.08%USDT

Correlation

-0.24over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2390d: 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	SPC	USDT
Max drawdown (400d)	-35.1%	-0.2%
Risk-adjusted return (90d)	-0.54	-0.03

Relative strength over 90 days: USDT outperformed SPC by 34.8% — measured on the SPC/USDT ratio, so it holds regardless of market direction.

SpaceChain (ERC-20) →Tether →