SYNAPZ vs Tether

Tether (USDT) is 608828.8× the size of SYNAPZ (SYNAPZ) by market capitalisation. Over the past 30 days, USDT is ahead by 25.3 percentage points (SYNAPZ -25.4% against USDT -0.0%). Their daily returns move barely together (correlation 0.11 across 24 shared trading days). SYNAPZ has been the more volatile of the two, at 63% annualised against USDT's 1%.

Correlation: 0.11
Size ratio: 1 : 608828.8
Ahead over 30 days: USDT

SYNAPZSYNAPZ

$0.000293

24h: +4.47%
Market cap: $292,821
Volume 24h: $27
Volatility (ann.): 63%

TetherUSDT

$0.999510

24h: +0.06%
Market cap: $178.28B
Volume 24h: $57.45B
Volatility (ann.): 1%

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

Performance

SYNAPZUSDT

7 days-2.60%+0.03%USDT
30 days-25.36%-0.04%USDT

Correlation

0.11over 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	SYNAPZ	USDT
Max drawdown (400d)	-34.5%	-0.2%
Risk-adjusted return (90d)	-0.38	0.03

Relative strength over 90 days: USDT outperformed SYNAPZ by 20.5% — measured on the SYNAPZ/USDT ratio, so it holds regardless of market direction.

SYNAPZ →Tether →