Ondo US Dollar Yield (USDY) is 6941.9× the size of Etherfuse TESOURO (TESOURO) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.03 across 25 shared trading days). TESOURO has been the more volatile of the two, at 9141114% annualised against USDY's 6%.
$0.232945
TESOUROUSDY
-0.03over 25 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 | TESOURO | USDY |
|---|---|---|
| Max drawdown (400d) | -100.0% | -0.9% |
| Risk-adjusted return (90d) | 0.00 | 0.15 |
Relative strength over 90 days: USDY outperformed TESOURO by 2.5% — measured on the TESOURO/USDY ratio, so it holds regardless of market direction.