USDS (USDS) is 2376.2× the size of Startale USD (USDSC) by market capitalisation. Their daily returns move barely together (correlation 0.02 across 31 shared trading days). USDSC has been the more volatile of the two, at 3% annualised against USDS's 1%.
USDSCUSDS
0.02over 31 shared trading days
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.
| Metric | USDSC | USDS |
|---|---|---|
| Max drawdown (400d) | -0.4% | -0.4% |
| Risk-adjusted return (90d) | -0.09 | 0.01 |
Relative strength over 90 days: USDS outperformed USDSC by 0.3% — measured on the USDSC/USDS ratio, so it holds regardless of market direction.