Switch Token vs Tether

Tether (USDT) is 59339.4× the size of Switch Token (SWITCH) by market capitalisation. Over the past 30 days, USDT is ahead by 26.8 percentage points (SWITCH -26.8% against USDT -0.1%). Their daily returns move loosely together (correlation 0.54 across 32 shared trading days). SWITCH has been the more volatile of the two, at 428615% annualised against USDT's 1%.

Correlation: 0.54
Size ratio: 1 : 59339.4
Ahead over 30 days: USDT

Switch TokenSWITCH

$6.837e-5

24h: +5.25%
Market cap: $3.00M
Volume 24h: $854
Volatility (ann.): 428615%

TetherUSDT

$0.998961

24h: +0.03%
Market cap: $178.19B
Volume 24h: $49.81B
Volatility (ann.): 1%

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

Performance

SWITCHUSDT

7 days-99.72%+0.03%USDT
30 days-26.84%-0.08%USDT

Correlation

0.54over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5390d: 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	SWITCH	USDT
Max drawdown (400d)	-99.9%	-0.2%
Risk-adjusted return (90d)	0.00	-0.03

Relative strength over 90 days: USDT outperformed SWITCH by 58.4% — measured on the SWITCH/USDT ratio, so it holds regardless of market direction.

Switch Token →Tether →