Tether (USDT) is 40.0× the size of Rain (RAIN) by market capitalisation. Over the past 30 days, USDT is ahead by 58.2 percentage points (USDT -0.1% against RAIN -58.2%). Their daily returns move barely together (correlation 0.09 across 58 shared trading days). RAIN has been the more volatile of the two, at 134% annualised against USDT's 1%.
USDTRAIN
0.09over 58 shared trading days
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.
| Metric | USDT | RAIN |
|---|---|---|
| Max drawdown (400d) | -0.2% | -68.5% |
| Risk-adjusted return (90d) | -0.03 | -0.37 |
Relative strength over 90 days: USDT outperformed RAIN by 98.2% — measured on the USDT/RAIN ratio, so it holds regardless of market direction.