Tether (USDT) is 4212.1× the size of τemplar (SN3) by market capitalisation. Over the past 30 days, SN3 is ahead by 35.8 percentage points (SN3 +35.8% against USDT +0.0%). Their daily returns move barely together (correlation 0.26 across 26 shared trading days). SN3 has been the more volatile of the two, at 119% annualised against USDT's 0%.
| Period | SN3 | USDT | Ahead |
|---|---|---|---|
| 7 days | +16.94% | -0.01% | SN3 |
| 30 days | +35.81% | +0.05% | SN3 |
| Metric | SN3 | USDT |
|---|---|---|
| Max drawdown (400d) | -17.6% | -0.0% |
| Risk-adjusted return (90d) | 0.30 | 0.19 |
Relative strength over 90 days: SN3 outperformed USDT by 9.0% — measured on the SN3/USDT ratio, so it holds regardless of market direction.
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.