USDC (USDC) is 3764.6× the size of USDPT | Western Union (USDPT) by market capitalisation. Their daily returns move barely together (correlation 0.02 across 86 shared trading days). USDPT has been the more volatile of the two, at 3% annualised against USDC's 0%.
USDPTUSDC
0.02over 86 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 | USDPT | USDC |
|---|---|---|
| Max drawdown (400d) | -1.1% | -0.3% |
| Risk-adjusted return (90d) | 0.06 | 0.05 |
| Best 30 days (past year) | — | +0.2% |
| Worst 30 days (past year) | — | -0.2% |
Relative strength over 90 days: USDPT outperformed USDC by 0.2% — measured on the USDPT/USDC ratio, so it holds regardless of market direction.