toly's minutes vs Tether

Tether (USDT) is 6052255.4× the size of toly's minutes (TOLY) by market capitalisation. Over the past 30 days, TOLY is ahead by 2.1 percentage points (TOLY +2.0% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.22 across 24 shared trading days). TOLY has been the more volatile of the two, at 18% annualised against USDT's 1%.

Correlation: -0.22
Size ratio: 1 : 6052255.4
Ahead over 30 days: TOLY

toly's minutesTOLY

$0.320677

24h: -0.05%
Market cap: $29,338
Volume 24h: $1
Volatility (ann.): 18%

TetherUSDT

$0.998954

24h: -0.04%
Market cap: $177.56B
Volume 24h: $67.70B
Volatility (ann.): 1%

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

Performance

TOLYUSDT

7 days-0.92%+0.07%USDT
30 days+2.01%-0.09%TOLY

Correlation

-0.22over 24 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	TOLY	USDT
Max drawdown (400d)	-3.8%	-0.2%
Risk-adjusted return (90d)	-0.07	-0.05

Relative strength over 90 days: TOLY outperformed USDT by 2.5% — measured on the TOLY/USDT ratio, so it holds regardless of market direction.

toly's minutes →Tether →