USDD vs f(x) Protocol fxUSD

USDD (USDD) is 17.3× the size of f(x) Protocol fxUSD (FXUSD) by market capitalisation. Over the past 30 days, FXUSD is ahead by 0.1 percentage points (USDD -0.1% against FXUSD +0.0%). Their daily returns move barely together (correlation 0.14 across 55 shared trading days). USDD has been the more volatile of the two, at 2% annualised against FXUSD's 1%.

Correlation: 0.14
Size ratio: 17.3×
Ahead over 30 days: FXUSD

USDDUSDD

$0.997256

24h: -0.05%
Market cap: $1.49B
Volume 24h: $2.09M
Volatility (ann.): 2%

f(x) Protocol fxUSDFXUSD

$1.0000

24h: +0.01%
Market cap: $85.89M
Volume 24h: $71.84M
Volatility (ann.): 1%

USDD 94.5%Share of the two combined market caps5.5% FXUSD

Performance

USDDFXUSD

7 days-0.04%+0.00%FXUSD
30 days-0.10%+0.05%FXUSD

Correlation

0.14over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1390d: 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	USDD	FXUSD
Max drawdown (400d)	-0.4%	-0.2%
Risk-adjusted return (90d)	-0.07	0.10

Relative strength over 90 days: FXUSD outperformed USDD by 0.2% — measured on the USDD/FXUSD ratio, so it holds regardless of market direction.

USDD →f(x) Protocol fxUSD →