USDT-USD vs. USDC-USD
USDT-USD (Tether) and USDC-USD (USDCoin) are both cryptocurrencies. Over the past 5 years, USDT-USD returned -0.02%/yr vs -0.01%/yr for USDC-USD. At a 0.15 correlation, their price movements are largely independent.
Performance
USDT-USD vs. USDC-USD - Performance Comparison
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Returns By Period
USDT-USD
- 1D
- 0.04%
- 1M
- -0.09%
- YTD
- 0.04%
- 6M
- -0.14%
- 1Y
- -0.15%
- 3Y*
- -0.04%
- 5Y*
- -0.02%
- 10Y*
- —
USDC-USD
- 1D
- 0.00%
- 1M
- -0.02%
- YTD
- -0.00%
- 6M
- -0.03%
- 1Y
- -0.02%
- 3Y*
- -0.01%
- 5Y*
- -0.01%
- 10Y*
- —
USDT-USD vs. USDC-USD - Yearly Performance Comparison
Correlation
The correlation between USDT-USD and USDC-USD is 0.08, 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 | 0.08 |
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 USDT-USD and USDC-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
USDT-USD vs. USDC-USD — Risk / Return Rank
USDT-USD
USDC-USD
USDT-USD vs. USDC-USD - Risk-Adjusted Trends Comparison
This table presents a comparison of risk-adjusted performance metrics for Tether (USDT-USD) and USDCoin (USDC-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.
| USDT-USD | USDC-USD | Difference | |
|---|---|---|---|
Sharpe ratioReturn per unit of total volatility | -0.31 | -0.12 | -0.19 |
Sortino ratioReturn per unit of downside risk | -0.46 | -0.17 | -0.29 |
Omega ratioGain probability vs. loss probability | 0.96 | 0.98 | -0.03 |
Calmar ratioReturn relative to maximum drawdown | -0.50 | -0.00 | -0.50 |
Martin ratioReturn relative to average drawdown | -0.92 | -0.00 | -0.92 |
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
| USDT-USD | USDC-USD | Difference | |
|---|---|---|---|
Sharpe Ratio (1Y)Calculated over the trailing 1-year period | -0.31 | -0.12 | -0.19 |
Sharpe Ratio (5Y)Calculated over the trailing 5-year period | -0.03 | -0.01 | -0.03 |
Sharpe Ratio (All Time)Calculated using the full available price history | -0.00 | -0.01 | +0.01 |
Drawdowns
USDT-USD vs. USDC-USD - Drawdown Comparison
The maximum USDT-USD drawdown since its inception was -10.32%, which is greater than USDC-USD's maximum drawdown of -6.79%. Use the drawdown chart below to compare losses from any high point for USDT-USD and USDC-USD.
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Drawdown Indicators
| USDT-USD | USDC-USD | Difference | |
|---|---|---|---|
Max DrawdownLargest peak-to-trough decline | -10.32% | -6.79% | -3.53% |
Max Drawdown (1Y)Largest decline over 1 year | -0.39% | -0.05% | -0.34% |
Max Drawdown (3Y)Largest decline over 3 years | -0.42% | -0.11% | -0.31% |
Max Drawdown (5Y)Largest decline over 5 years | -0.99% | -3.32% | +2.33% |
Current DrawdownCurrent decline from peak | -7.32% | -3.64% | -3.68% |
Average DrawdownAverage peak-to-trough decline | -6.93% | -3.49% | -3.44% |
Ulcer IndexDepth and duration of drawdowns from previous peaks | 0.21% | 0.02% | +0.19% |
Volatility
USDT-USD vs. USDC-USD - Volatility Comparison
Tether (USDT-USD) has a higher volatility of 0.11% compared to USDCoin (USDC-USD) at 0.05%. This indicates that USDT-USD's price experiences larger fluctuations and is considered to be riskier than USDC-USD based on this measure. The chart below showcases a comparison of their rolling one-month volatility.
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Volatility by Period
| USDT-USD | USDC-USD | Difference | |
|---|---|---|---|
Volatility (1M)Calculated over the trailing 1-month period | 0.11% | 0.05% | +0.06% |
Volatility (6M)Calculated over the trailing 6-month period | 0.35% | 0.13% | +0.22% |
Volatility (1Y)Calculated over the trailing 1-year period | 0.40% | 0.14% | +0.26% |
Volatility (5Y)Calculated over the trailing 5-year period, annualized | 0.55% | 1.53% | -0.98% |
Volatility (10Y)Calculated over the trailing 10-year period, annualized | 6.78% | 3.26% | +3.52% |
Frequently Asked Questions
USDT-USD and USDC-USD have a correlation of 0.08, 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 (0.11%) compared to USDC-USD (0.05%). In terms of maximum drawdown, USDT-USD dropped -10.32% vs USDC-USD's -6.79%.
USDC-USD currently has the higher Sharpe Ratio (-0.12 vs -0.31), 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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