WaterMinder vs Tether

Tether (USDT) is 15391333.3× the size of WaterMinder (WMDR) by market capitalisation. Over the past 30 days, USDT is ahead by 25.5 percentage points (WMDR -25.5% against USDT -0.0%). Their daily returns move barely together (correlation 0.13 across 23 shared trading days). WMDR has been the more volatile of the two, at 73% annualised against USDT's 1%.

Correlation: 0.13
Size ratio: 1 : 15391333.3
Ahead over 30 days: USDT

WaterMinderWMDR

$1.154e-5

24h: —
Market cap: $11,536
Volume 24h: —
Volatility (ann.): 73%

TetherUSDT

$0.999205

24h: -0.01%
Market cap: $177.56B
Volume 24h: $61.16B
Volatility (ann.): 1%

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

Performance

WMDRUSDT

7 days-10.90%+0.03%USDT
30 days-25.49%-0.04%USDT

Correlation

0.13over 23 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	WMDR	USDT
Max drawdown (400d)	-31.5%	-0.2%
Risk-adjusted return (90d)	-0.35	0.03

Relative strength over 90 days: USDT outperformed WMDR by 19.4% — measured on the WMDR/USDT ratio, so it holds regardless of market direction.

WaterMinder →Tether →