Tether vs Canton

Tether (USDT) is 45.2× the size of Canton (CC) by market capitalisation. Over the past 30 days, USDT is ahead by 0.4 percentage points (USDT -0.1% against CC -0.5%). Their daily returns move loosely together (correlation 0.39 across 58 shared trading days). CC has been the more volatile of the two, at 126% annualised against USDT's 1%.

Correlation: 0.39
Size ratio: 45.2×
Ahead over 30 days: USDT

TetherUSDT

$0.998838

24h: +0.02%
Market cap: $178.17B
Volume 24h: $47.48B
Volatility (ann.): 1%

CantonCC

$0.098587

24h: +5.77%
Market cap: $3.94B
Volume 24h: $14.04M
Volatility (ann.): 126%

USDT 97.8%Share of the two combined market caps2.2% CC

Performance

USDTCC

7 days+0.03%-2.16%USDT
30 days-0.08%-0.52%USDT

Correlation

0.39over 58 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3990d: 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	CC
Max drawdown (400d)	-0.2%	-30.6%
Risk-adjusted return (90d)	-0.03	0.01

Relative strength over 90 days: CC outperformed USDT by 1.5% — measured on the USDT/CC ratio, so it holds regardless of market direction.

Tether →Canton →