Trencher vs Tether

Tether (USDT) is 261261.0× the size of Trencher (TRENCHER) by market capitalisation. Over the past 30 days, USDT is ahead by 99.5 percentage points (TRENCHER -99.6% against USDT -0.1%). Their daily returns move closely together (correlation 0.78 across 22 shared trading days). TRENCHER has been the more volatile of the two, at 367% annualised against USDT's 1%.

Correlation: 0.78
Size ratio: 1 : 261261.0
Ahead over 30 days: USDT

TrencherTRENCHER

$0.000682

24h: -0.27%
Market cap: $682,164
Volume 24h: $27,532
Volatility (ann.): 367%

TetherUSDT

$0.999148

24h: +0.04%
Market cap: $178.22B
Volume 24h: $56.79B
Volatility (ann.): 1%

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

Performance

TRENCHERUSDT

7 days-99.68%+0.03%USDT
30 days-99.62%-0.08%USDT

Correlation

0.78over 22 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	TRENCHER	USDT
Max drawdown (400d)	-99.7%	-0.2%
Risk-adjusted return (90d)	-0.27	-0.03

Relative strength over 90 days: USDT outperformed TRENCHER by 99.6% — measured on the TRENCHER/USDT ratio, so it holds regardless of market direction.

Trencher →Tether →