Spawn vs Tether

Tether (USDT) is 3164821.9× the size of Spawn (SPAWN) by market capitalisation. Over the past 30 days, USDT is ahead by 31.9 percentage points (SPAWN -31.9% against USDT -0.0%). Their daily returns move barely together (correlation 0.14 across 24 shared trading days). SPAWN has been the more volatile of the two, at 281% annualised against USDT's 1%.

Correlation: 0.14
Size ratio: 1 : 3164821.9
Ahead over 30 days: USDT

SpawnSPAWN

$6.214e-5

24h: +14.74%
Market cap: $56,331
Volume 24h: $437
Volatility (ann.): 281%

TetherUSDT

$0.999461

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

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

Performance

SPAWNUSDT

7 days+10.68%+0.03%SPAWN
30 days-31.92%-0.04%USDT

Correlation

0.14over 24 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	SPAWN	USDT
Max drawdown (400d)	-48.5%	-0.2%
Risk-adjusted return (90d)	-0.03	0.03

Relative strength over 90 days: USDT outperformed SPAWN by 37.9% — measured on the SPAWN/USDT ratio, so it holds regardless of market direction.

Spawn →Tether →