Tether Gold (XAUT) is 2245.7× the size of Unisocks (SOCKS) by market capitalisation. Their daily returns move barely together (correlation 0.21 across 29 shared trading days). SOCKS has been the more volatile of the two, at 128% annualised against XAUT's 24%.
SOCKSXAUT
0.21over 29 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 | SOCKS | XAUT |
|---|---|---|
| Max drawdown (400d) | -50.5% | -19.4% |
| Risk-adjusted return (90d) | -0.38 | -0.36 |
Relative strength over 90 days: XAUT outperformed SOCKS by 45.6% — measured on the SOCKS/XAUT ratio, so it holds regardless of market direction.