USDA vs Tether

Tether (USDT) is 2231.0× 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 USDT -0.1%). Their daily returns move loosely in opposite directions (correlation -0.37 across 54 shared trading days). USDA has been the more volatile of the two, at 35% annualised against USDT's 1%.

Correlation: -0.37
Size ratio: 1 : 2231.0
Ahead over 30 days: USDA

USDAUSDA

$0.918708

24h: -0.14%
Market cap: $79.90M
Volume 24h: $173,999
Volatility (ann.): 35%

TetherUSDT

$0.999347

24h: +0.03%
Market cap: $178.25B
Volume 24h: $61.50B
Volatility (ann.): 1%

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

Performance

USDAUSDT

7 days-3.49%+0.03%USDT
30 days+0.37%-0.08%USDA

Correlation

-0.37over 54 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4090d: 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	USDA	USDT
Max drawdown (400d)	-12.0%	-0.2%
Risk-adjusted return (90d)	-0.20	-0.03

Relative strength over 90 days: USDT outperformed USDA by 6.9% — measured on the USDA/USDT ratio, so it holds regardless of market direction.

USDA →Tether →