WhiteBIT Coin (WBT) is 2.6× the size of Tether Gold (XAUT) by market capitalisation. Their daily returns move loosely together (correlation 0.40 across 64 shared trading days). WBT has been the more volatile of the two, at 60% annualised against XAUT's 24%.
WBTXAUT
0.40over 64 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 | WBT | XAUT |
|---|---|---|
| Max drawdown (400d) | -14.0% | -19.4% |
| Risk-adjusted return (90d) | 0.54 | -0.25 |
Relative strength over 90 days: WBT outperformed XAUT by 40.0% — measured on the WBT/XAUT ratio, so it holds regardless of market direction.