The Mountain vs Tether

Tether (USDT) is 20685577.4× the size of The Mountain (MOUNTAIN) by market capitalisation. Over the past 30 days, USDT is ahead by 35.1 percentage points (MOUNTAIN -35.1% against USDT -0.0%). Their daily returns move barely together (correlation 0.02 across 21 shared trading days). MOUNTAIN has been the more volatile of the two, at 87% annualised against USDT's 1%.

Correlation: 0.02
Size ratio: 1 : 20685577.4
Ahead over 30 days: USDT

The MountainMOUNTAIN

$8.890e-6

24h: —
Market cap: $8,582
Volume 24h: —
Volatility (ann.): 87%

TetherUSDT

$0.998963

24h: -0.04%
Market cap: $177.52B
Volume 24h: $61.96B
Volatility (ann.): 1%

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

Performance

MOUNTAINUSDT

7 days-7.55%+0.03%USDT
30 days-35.10%-0.04%USDT

Correlation

0.02over 21 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	MOUNTAIN	USDT
Max drawdown (400d)	-35.1%	-0.2%
Risk-adjusted return (90d)	-0.29	0.03

Relative strength over 90 days: USDT outperformed MOUNTAIN by 26.9% — measured on the MOUNTAIN/USDT ratio, so it holds regardless of market direction.

The Mountain →Tether →