USDC-USD vs. USDT-USD
USDC-USD (USDCoin) and USDT-USD (Tether) are both cryptocurrencies. Over the past 5 years, USDC-USD returned -0.00%/yr vs -0.02%/yr for USDT-USD. At a 0.15 correlation, their price movements are largely independent.
Performance
USDC-USD vs. USDT-USD - Performance Comparison
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Returns By Period
In the year-to-date period, USDC-USD achieves a 0.02% return, which is significantly lower than USDT-USD's 0.09% return.
USDC-USD
- 1D
- 0.01%
- 1M
- 0.01%
- YTD
- 0.02%
- 6M
- -0.00%
- 1Y
- -0.00%
- 3Y*
- 0.00%
- 5Y*
- -0.00%
- 10Y*
- —
USDT-USD
- 1D
- 0.06%
- 1M
- -0.04%
- YTD
- 0.09%
- 6M
- -0.09%
- 1Y
- -0.10%
- 3Y*
- -0.03%
- 5Y*
- -0.02%
- 10Y*
- —
USDC-USD vs. USDT-USD - Yearly Performance Comparison
Correlation
The correlation between USDC-USD and USDT-USD is 0.09, meaning there is essentially no relationship between their price movements. Each responds to its own set of market drivers, making them strong candidates for combining in a diversified portfolio.
| Correlation | |
|---|---|
Correlation (1Y) Calculated over the trailing 1-year period | 0.09 |
Correlation (3Y) Calculated over the trailing 3-year period | 0.08 |
Correlation (5Y) Calculated over the trailing 5-year period | 0.04 |
Correlation (All Time) Calculated using the full available price history since Oct 9, 2018 | 0.15 |
The correlation between USDC-USD and USDT-USD shifts across timeframes, from 0.04 (5 years) to 0.15 (all time), reflecting how their relationship changes across market environments.
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Return for Risk
USDC-USD vs. USDT-USD — Risk / Return Rank
USDC-USD
USDT-USD
USDC-USD vs. USDT-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for USDCoin (USDC-USD) and Tether (USDT-USD). Risk-adjusted metrics are performance indicators that assess an investment's returns in relation to its risk, enabling a more accurate comparison of different investment options.
| USDC-USD | USDT-USD | Difference | |
|---|---|---|---|
| Sharpe ratioReturn per unit of total volatility | +0.20 | ||
| Sortino ratioReturn per unit of downside risk | +0.31 | ||
| Omega ratioGain probability vs. loss probability | 1.00 | 0.97 | +0.03 |
| Calmar ratioReturn relative to maximum drawdown | -0.00 | -0.25 | +0.25 |
| Martin ratioReturn relative to average drawdown | -0.00 | -0.55 | +0.55 |
Data is calculated on a 1-year rolling basis and updated daily. The trend shows the change in the indicator over the past month. | |||
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Sharpe Ratios by Period
| USDC-USD | USDT-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.00 | -0.20 | +0.20 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.00 | -0.03 | +0.02 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.01 | 0.00 | -0.01 |
Drawdowns
USDC-USD vs. USDT-USD - Drawdown Comparison
The maximum USDC-USD drawdown since its inception was -6.79%, smaller than the maximum USDT-USD drawdown of -10.32%. Use the drawdown chart below to compare losses from any high point for USDC-USD and USDT-USD.
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Drawdown Indicators
| USDC-USD | USDT-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -6.79% | -10.32% | +3.53% |
Max Drawdown (1Y)Largest decline over 1 year | -0.05% | -0.39% | +0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -0.11% | -0.42% | +0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -3.32% | -0.99% | -2.33% |
Current DrawdownCurrent decline from peak | -3.63% | -7.27% | +3.64% |
Average DrawdownAverage peak-to-trough decline | -3.49% | -6.93% | +3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.02% | 0.21% | -0.19% |
Volatility
USDC-USD vs. USDT-USD - Volatility Comparison
The current volatility for USDCoin (USDC-USD) is 0.04%, while Tether (USDT-USD) has a volatility of 0.12%. This indicates that USDC-USD experiences smaller price fluctuations and is considered to be less risky than USDT-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USDC-USD | USDT-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.04% | 0.12% | -0.08% |
Volatility (6M)Calculated over the trailing 6-month period | 0.13% | 0.35% | -0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.14% | 0.40% | -0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 1.53% | 0.55% | +0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 3.26% | 6.78% | -3.52% |
Frequently Asked Questions
USDC-USD and USDT-USD have a correlation of 0.09, meaning they provide meaningful diversification benefit when combined. Depending on your allocation goals, holding both could reduce overall portfolio risk.
USDT-USD has higher volatility (0.12%) compared to USDC-USD (0.04%). In terms of maximum drawdown, USDC-USD dropped -6.79% vs USDT-USD's -10.32%.
USDC-USD currently has the higher Sharpe Ratio (-0.00 vs -0.20), meaning it's delivered slightly more return per unit of risk over the trailing 12 months. However, this ranking shifts over time - use the Risk/Return Score above for a more comprehensive view that combines Sharpe, Sortino, and other measures used by quantitative funds.
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