BeethovenX sFTMX vs Tether

Tether (USDT) is 220719.0× the size of BeethovenX sFTMX (SFTMX) by market capitalisation. Over the past 30 days, USDT is ahead by 98.1 percentage points (SFTMX -98.2% against USDT -0.1%). Their daily returns move barely together (correlation 0.24 across 44 shared trading days). SFTMX has been the more volatile of the two, at 377% annualised against USDT's 1%.

Correlation: 0.24
Size ratio: 1 : 220719.0
Ahead over 30 days: USDT

BeethovenX sFTMXSFTMX

$0.040735

24h: —
Market cap: $807,465
Volume 24h: $2
Volatility (ann.): 377%

TetherUSDT

$0.999148

24h: +0.04%
Market cap: $178.22B
Volume 24h: $56.79B
Volatility (ann.): 1%

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

Performance

SFTMXUSDT

7 days-17.26%+0.03%USDT
30 days-98.19%-0.08%USDT

Correlation

0.24over 44 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2990d: 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	SFTMX	USDT
Max drawdown (400d)	-98.2%	-0.2%
Risk-adjusted return (90d)	-0.26	-0.03

Relative strength over 90 days: USDT outperformed SFTMX by 97.3% — measured on the SFTMX/USDT ratio, so it holds regardless of market direction.

BeethovenX sFTMX →Tether →