Tangent USG vs GHO

GHO (GHO) is 181.4× the size of Tangent USG (USG) by market capitalisation. Over the past 30 days, USG is ahead by 0.2 percentage points (USG +0.1% against GHO -0.0%). Their daily returns move barely in opposite directions (correlation -0.19 across 23 shared trading days). USG has been the more volatile of the two, at 9% annualised against GHO's 1%.

Correlation: -0.19
Size ratio: 1 : 181.4
Ahead over 30 days: USG

Tangent USGUSG

$0.994156

24h: +0.03%
Market cap: $3.85M
Volume 24h: $27,647
Volatility (ann.): 9%

GHOGHO

$0.998778

24h: +0.04%
Market cap: $698.15M
Volume 24h: $5.84M
Volatility (ann.): 1%

USG 0.5%Share of the two combined market caps99.5% GHO

Performance

USGGHO

7 days-0.08%+0.00%GHO
30 days+0.12%-0.04%USG

Correlation

-0.19over 23 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	USG	GHO
Max drawdown (400d)	-1.9%	-0.2%
Risk-adjusted return (90d)	0.00	-0.01

Relative strength over 90 days: GHO outperformed USG by 0.1% — measured on the USG/GHO ratio, so it holds regardless of market direction.

Tangent USG →GHO →