Tether vs Bitway

Tether (USDT) is 40.4× the size of Bitway (BTW) by market capitalisation. Over the past 30 days, BTW is ahead by 180.5 percentage points (USDT +0.0% against BTW +180.5%). Their daily returns move barely in opposite directions (correlation -0.05 across 35 shared trading days). BTW has been the more volatile of the two, at 333% annualised against USDT's 0%.

Correlation: -0.05
Size ratio: 40.4×
Ahead over 30 days: BTW

TetherUSDT

$0.999110

24h: -0.01%
Market cap: $184.09B
Volume 24h: $29.78B
Volatility (ann.): 0%

BitwayBTW

$1.6800

24h: +3.55%
Market cap: $4.56B
Volume 24h: $12.23M
Volatility (ann.): 333%

USDT 97.6%Share of the two combined market caps2.4% BTW

Performance

USDTBTW

7 days-0.01%+101.46%BTW
30 days+0.00%+180.55%BTW

Correlation

-0.05over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0390d: 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	USDT	BTW
Max drawdown (400d)	-0.0%	-23.4%
Risk-adjusted return (90d)	0.20	0.60

Relative strength over 90 days: BTW outperformed USDT by 66.5% — measured on the USDT/BTW ratio, so it holds regardless of market direction.

Tether →Bitway →