Tether (USDT) is 8097020.0× the size of Tigra (TIGRA) by market capitalisation. Their daily returns move loosely together (correlation 0.46 across 21 shared trading days). TIGRA has been the more volatile of the two, at 180% annualised against USDT's 1%.
TIGRAUSDT
0.46over 21 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 | TIGRA | USDT |
|---|---|---|
| Max drawdown (400d) | -87.0% | -0.2% |
| Risk-adjusted return (90d) | -0.37 | -0.05 |
Relative strength over 90 days: TIGRA outperformed USDT by 9.9% — measured on the TIGRA/USDT ratio, so it holds regardless of market direction.