Tether vs Global Dollar

Tether (USDT) is 63.8× the size of Global Dollar (USDG) by market capitalisation. Over the past 30 days, USDG is ahead by 0.1 percentage points (USDT -0.1% against USDG +0.0%). Their daily returns move loosely together (correlation 0.37 across 60 shared trading days). USDT has been the more volatile of the two, at 1% annualised against USDG's 0%.

Correlation: 0.37
Size ratio: 63.8×
Ahead over 30 days: USDG

TetherUSDT

$0.998980

24h: -0.05%
Market cap: $177.57B
Volume 24h: $69.59B
Volatility (ann.): 1%

Global DollarUSDG

$1.0000

24h: -0.02%
Market cap: $2.78B
Volume 24h: $782.26M
Volatility (ann.): 0%

USDT 98.5%Share of the two combined market caps1.5% USDG

Performance

USDTUSDG

7 days+0.07%+0.01%USDT
30 days-0.09%+0.00%USDG

Correlation

0.37over 60 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4490d: 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	USDG
Max drawdown (400d)	-0.2%	-0.0%
Risk-adjusted return (90d)	-0.05	0.00

Relative strength over 90 days: USDG outperformed USDT by 0.0% — measured on the USDT/USDG ratio, so it holds regardless of market direction.

Tether →Global Dollar →