Backed CSPX Core S&P 500 vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 95.7× the size of Backed CSPX Core S&P 500 (BCSPX) by market capitalisation. Over the past 30 days, USDY is ahead by 18.5 percentage points (BCSPX -18.5% against USDY +0.0%). Their daily returns move barely together (correlation 0.03 across 38 shared trading days). BCSPX has been the more volatile of the two, at 75% annualised against USDY's 6%.

Correlation: 0.03
Size ratio: 1 : 95.7
Ahead over 30 days: USDY

Backed CSPX Core S&P 500BCSPX

$679.3400

24h: +0.38%
Market cap: $25.05M
Volume 24h: $1
Volatility (ann.): 75%

Ondo US Dollar YieldUSDY

$1.1500

24h: +0.12%
Market cap: $2.40B
Volume 24h: $2.78M
Volatility (ann.): 6%

BCSPX 1.0%Share of the two combined market caps99.0% USDY

Performance

BCSPXUSDY

7 days-11.23%+0.00%USDY
30 days-18.47%+0.00%USDY

Correlation

0.03over 38 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0490d: 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	BCSPX	USDY
Max drawdown (400d)	-21.9%	-0.9%
Risk-adjusted return (90d)	-0.24	0.15

Relative strength over 90 days: USDY outperformed BCSPX by 18.7% — measured on the BCSPX/USDY ratio, so it holds regardless of market direction.

Backed CSPX Core S&P 500 →Ondo US Dollar Yield →