UnlockProtocolToken vs Tether

Tether (USDT) is 191997.8× the size of UnlockProtocolToken (UP) by market capitalisation. Over the past 30 days, UP is ahead by 52.9 percentage points (UP +52.8% against USDT -0.0%). Their daily returns move loosely together (correlation 0.36 across 28 shared trading days). UP has been the more volatile of the two, at 437% annualised against USDT's 1%.

Correlation: 0.36
Size ratio: 1 : 191997.8
Ahead over 30 days: UP

UnlockProtocolTokenUP

$0.001672

24h: +5.95%
Market cap: $928,488
Volume 24h: $330
Volatility (ann.): 437%

TetherUSDT

$0.999405

24h: +0.05%
Market cap: $178.27B
Volume 24h: $63.70B
Volatility (ann.): 1%

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

Performance

UPUSDT

7 days+124.92%+0.03%UP
30 days+52.83%-0.04%UP

Correlation

0.36over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3690d: 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	UP	USDT
Max drawdown (400d)	-74.0%	-0.2%
Risk-adjusted return (90d)	0.03	0.03

Relative strength over 90 days: UP outperformed USDT by 14.9% — measured on the UP/USDT ratio, so it holds regardless of market direction.

UnlockProtocolToken →Tether →