VNX British Pound vs Tether

Tether (USDT) is 1053621.7× the size of VNX British Pound (VGBP) by market capitalisation. Over the past 30 days, USDT is ahead by 9.0 percentage points (VGBP -9.0% against USDT -0.0%). Their daily returns move barely in opposite directions (correlation -0.17 across 24 shared trading days). VGBP has been the more volatile of the two, at 30% annualised against USDT's 1%.

Correlation: -0.17
Size ratio: 1 : 1053621.7
Ahead over 30 days: USDT

VNX British PoundVGBP

$1.3400

24h: +0.04%
Market cap: $169,224
Volume 24h: $5
Volatility (ann.): 30%

TetherUSDT

$0.999576

24h: +0.07%
Market cap: $178.30B
Volume 24h: $57.75B
Volatility (ann.): 1%

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

Performance

VGBPUSDT

7 days-9.02%+0.03%USDT
30 days-9.02%-0.04%USDT

Correlation

-0.17over 24 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	VGBP	USDT
Max drawdown (400d)	-9.0%	-0.2%
Risk-adjusted return (90d)	-0.31	0.03

Relative strength over 90 days: USDT outperformed VGBP by 9.1% — measured on the VGBP/USDT ratio, so it holds regardless of market direction.

VNX British Pound →Tether →