SparkPoint vs Tether

Tether (USDT) is 2555438.0× the size of SparkPoint (SRK) by market capitalisation. Over the past 30 days, USDT is ahead by 37.6 percentage points (SRK -37.7% against USDT -0.0%). Their daily returns move barely together (correlation 0.07 across 23 shared trading days). SRK has been the more volatile of the two, at 202% annualised against USDT's 1%.

Correlation: 0.07
Size ratio: 1 : 2555438.0
Ahead over 30 days: USDT

SparkPointSRK

$5.360e-6

24h: +6.41%
Market cap: $69,764
Volume 24h: $3
Volatility (ann.): 202%

TetherUSDT

$0.999461

24h: +0.05%
Market cap: $178.28B
Volume 24h: $56.82B
Volatility (ann.): 1%

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

Performance

SRKUSDT

7 days-12.63%+0.03%USDT
30 days-37.68%-0.04%USDT

Correlation

0.07over 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	SRK	USDT
Max drawdown (400d)	-51.4%	-0.2%
Risk-adjusted return (90d)	-0.24	0.03

Relative strength over 90 days: USDT outperformed SRK by 31.5% — measured on the SRK/USDT ratio, so it holds regardless of market direction.

SparkPoint →Tether →