Terraformation vs Tether

Tether (USDT) is 20301227.7× the size of Terraformation (TERRA) by market capitalisation. Over the past 30 days, USDT is ahead by 28.7 percentage points (TERRA -28.8% against USDT -0.0%). Their daily returns move barely together (correlation 0.28 across 23 shared trading days). TERRA has been the more volatile of the two, at 60% annualised against USDT's 1%.

Correlation: 0.28
Size ratio: 1 : 20301227.7
Ahead over 30 days: USDT

TerraformationTERRA

$8.900e-6

24h: +7.16%
Market cap: $8,747
Volume 24h: $63
Volatility (ann.): 60%

TetherUSDT

$0.999324

24h: +0.01%
Market cap: $177.58B
Volume 24h: $57.97B
Volatility (ann.): 1%

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

Performance

TERRAUSDT

7 days-12.24%+0.03%USDT
30 days-28.78%-0.04%USDT

Correlation

0.28over 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	TERRA	USDT
Max drawdown (400d)	-30.1%	-0.2%
Risk-adjusted return (90d)	-0.42	0.03

Relative strength over 90 days: USDT outperformed TERRA by 16.5% — measured on the TERRA/USDT ratio, so it holds regardless of market direction.

Terraformation →Tether →