Dai (DAI) is 56.4× the size of USDA (USDA) by market capitalisation. Over the past 30 days, USDA is ahead by 0.4 percentage points (USDA +0.4% against DAI +0.0%). Their daily returns move barely together (correlation 0.10 across 25 shared trading days). USDA has been the more volatile of the two, at 35% annualised against DAI's 1%.
USDADAI
0.10over 25 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 | USDA | DAI |
|---|---|---|
| Max drawdown (400d) | -12.0% | -0.1% |
| Risk-adjusted return (90d) | -0.20 | 0.03 |
Relative strength over 90 days: USDA outperformed DAI by 4.8% — measured on the USDA/DAI ratio, so it holds regardless of market direction.