Tether Gold vs Gram (prev. Toncoin)

Tether Gold (XAUT) is 1.0× the size of Gram (prev. Toncoin) (GRAM) by market capitalisation. Over the past 90 days, XAUT is ahead by 9.2 percentage points (XAUT -12.6% against GRAM -21.8%). Their daily returns move barely together (correlation 0.30 across 136 shared trading days). GRAM has been the more volatile of the two, at 59% annualised against XAUT's 24%.

Correlation: 0.30
Size ratio: 1.0×
Ahead over 90 days: XAUT

Tether GoldXAUT

$3,825.38

24h: -1.01%
Market cap: $3.09B
Volume 24h: $246.61M
Volatility (ann.): 24%

Gram (prev. Toncoin)GRAM

$1.0510

24h: -1.51%
Market cap: $3.01B
Volume 24h: $64.51M
Volatility (ann.): 59%

XAUT 50.7%Share of the two combined market caps49.3% GRAM

Performance

XAUTGRAM

7 days-6.41%-2.34%GRAM
30 days-8.44%-24.71%XAUT
90 days-12.63%-21.83%XAUT

Correlation

0.30over 136 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0290d: 0.281y: 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	XAUT	GRAM
Max drawdown (400d)	-21.0%	-42.8%
Risk-adjusted return (90d)	-0.55	-0.34

Relative strength over 90 days: XAUT outperformed GRAM by 11.8% — measured on the XAUT/GRAM ratio, so it holds regardless of market direction.

Tether Gold →Gram (prev. Toncoin) →