Tether (USDT) is 18.9× the size of WhiteBIT Coin (WBT) by market capitalisation. Over the past 30 days, WBT is ahead by 45.5 percentage points (USDT +0.0% against WBT +45.5%). Their daily returns move barely together (correlation 0.17 across 31 shared trading days). WBT has been the more volatile of the two, at 72% annualised against USDT's 0%.
| Period | USDT | WBT | Ahead |
|---|---|---|---|
| 7 days | -0.01% | -2.10% | USDT |
| 30 days | +0.05% | +45.54% | WBT |
| Metric | USDT | WBT |
|---|---|---|
| Max drawdown (400d) | -0.0% | -4.0% |
| Risk-adjusted return (90d) | 0.19 | 0.64 |
Relative strength over 90 days: WBT outperformed USDT by 31.3% — measured on the USDT/WBT ratio, so it holds regardless of market direction.
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.