USDB vs Tether

Tether (USDT) is 21603.9× the size of USDB (USDB) by market capitalisation. Over the past 30 days, USDT is ahead by 0.2 percentage points (USDB -0.3% against USDT -0.1%). Their daily returns move barely in opposite directions (correlation -0.15 across 22 shared trading days). USDB has been the more volatile of the two, at 9% annualised against USDT's 1%.

Correlation: -0.15
Size ratio: 1 : 21603.9
Ahead over 30 days: USDT

USDBUSDB

$0.954851

24h: —
Market cap: $8.25M
Volume 24h: —
Volatility (ann.): 9%

TetherUSDT

$0.998961

24h: +0.03%
Market cap: $178.19B
Volume 24h: $49.81B
Volatility (ann.): 1%

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

Performance

USDBUSDT

7 days-0.52%+0.03%USDT
30 days-0.33%-0.08%USDT

Correlation

-0.15over 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	USDB	USDT
Max drawdown (400d)	-1.1%	-0.2%
Risk-adjusted return (90d)	-0.04	-0.03

Relative strength over 90 days: USDT outperformed USDB by 0.3% — measured on the USDB/USDT ratio, so it holds regardless of market direction.

USDB →Tether →