USDST vs Tether

Tether (USDT) is 6978628.5× the size of USDST (USDST) by market capitalisation. Over the past 30 days, USDST is ahead by 0.2 percentage points (USDST +0.1% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.11 across 22 shared trading days). USDST has been the more volatile of the two, at 4% annualised against USDT's 1%.

Correlation: -0.11
Size ratio: 1 : 6978628.5
Ahead over 30 days: USDST

USDSTUSDST

$0.999178

24h: +0.03%
Market cap: $25,545
Volume 24h: $14,346
Volatility (ann.): 4%

TetherUSDT

$0.999387

24h: +0.03%
Market cap: $178.27B
Volume 24h: $62.40B
Volatility (ann.): 1%

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

Performance

USDSTUSDT

7 days+0.12%+0.03%USDST
30 days+0.08%-0.08%USDST

Correlation

-0.11over 22 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	USDST	USDT
Max drawdown (400d)	-0.9%	-0.2%
Risk-adjusted return (90d)	0.03	-0.03

Relative strength over 90 days: USDST outperformed USDT by 0.2% — measured on the USDST/USDT ratio, so it holds regardless of market direction.

USDST →Tether →