THE AMERICA PARTY vs Tether

Tether (USDT) is 5923894.3× the size of THE AMERICA PARTY (TAP) by market capitalisation. Over the past 30 days, USDT is ahead by 20.4 percentage points (TAP -20.5% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.02 across 23 shared trading days). TAP has been the more volatile of the two, at 80% annualised against USDT's 1%.

Correlation: -0.02
Size ratio: 1 : 5923894.3
Ahead over 30 days: USDT

THE AMERICA PARTYTAP

$2.998e-5

24h: +10.68%
Market cap: $29,973
Volume 24h: $1,228
Volatility (ann.): 80%

TetherUSDT

$0.998932

24h: -0.05%
Market cap: $177.56B
Volume 24h: $69.94B
Volatility (ann.): 1%

TAP 0.0%Share of the two combined market caps100.0% USDT

Performance

TAPUSDT

7 days+2.48%+0.07%TAP
30 days-20.46%-0.09%USDT

Correlation

-0.02over 23 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	TAP	USDT
Max drawdown (400d)	-34.4%	-0.2%
Risk-adjusted return (90d)	-0.27	-0.05

Relative strength over 90 days: USDT outperformed TAP by 8.4% — measured on the TAP/USDT ratio, so it holds regardless of market direction.

THE AMERICA PARTY →Tether →