Tether (USDT) is 18.8× the size of WhiteBIT Coin (WBT) by market capitalisation. Over the past 30 days, WBT is ahead by 45.5 percentage points (WBT +45.5% against USDT +0.0%). Their daily returns move barely together (correlation 0.17 across 31 shared trading days). WBT has been the more volatile of the two, at 72% annualised against USDT's 0%.
| Period | WBT | USDT | Ahead |
|---|---|---|---|
| 7 days | -2.10% | -0.01% | USDT |
| 30 days | +45.54% | +0.05% | WBT |
| Metric | WBT | USDT |
|---|---|---|
| Max drawdown (400d) | -4.0% | -0.0% |
| Risk-adjusted return (90d) | 0.64 | 0.19 |
Relative strength over 90 days: WBT outperformed USDT by 45.5% — measured on the WBT/USDT ratio, so it holds regardless of market direction.
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.