Trencher Broadcasting Company vs Tether

Tether (USDT) is 2919654.4× the size of Trencher Broadcasting Company (TBC) by market capitalisation. Over the past 30 days, USDT is ahead by 48.3 percentage points (TBC -48.3% against USDT -0.0%). Their daily returns move barely together (correlation 0.09 across 23 shared trading days). TBC has been the more volatile of the two, at 86% annualised against USDT's 1%.

Correlation: 0.09
Size ratio: 1 : 2919654.4
Ahead over 30 days: USDT

Trencher Broadcasting CompanyTBC

$6.107e-5

24h: +1.37%
Market cap: $61,055
Volume 24h: $291
Volatility (ann.): 86%

TetherUSDT

$0.999360

24h: +0.05%
Market cap: $178.26B
Volume 24h: $57.50B
Volatility (ann.): 1%

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

Performance

TBCUSDT

7 days-12.75%+0.03%USDT
30 days-48.34%-0.04%USDT

Correlation

0.09over 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	TBC	USDT
Max drawdown (400d)	-53.4%	-0.2%
Risk-adjusted return (90d)	-0.55	0.03

Relative strength over 90 days: USDT outperformed TBC by 34.4% — measured on the TBC/USDT ratio, so it holds regardless of market direction.

Trencher Broadcasting Company →Tether →