evaUSDT vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 915.4× the size of evaUSDT (EVAUSDT) by market capitalisation. Over the past 30 days, USDY is ahead by 0.3 percentage points (EVAUSDT -0.3% against USDY +0.0%). Their daily returns move barely together (correlation 0.04 across 30 shared trading days). USDY has been the more volatile of the two, at 6% annualised against EVAUSDT's 5%.

Correlation: 0.04
Size ratio: 1 : 915.4
Ahead over 30 days: USDY

evaUSDTEVAUSDT

$0.994288

24h: +0.06%
Market cap: $2.62M
Volume 24h: $216
Volatility (ann.): 5%

Ondo US Dollar YieldUSDY

$1.1500

24h: -0.12%
Market cap: $2.40B
Volume 24h: $4.00M
Volatility (ann.): 6%

EVAUSDT 0.1%Share of the two combined market caps99.9% USDY

Performance

EVAUSDTUSDY

7 days-0.15%+0.00%USDY
30 days-0.30%+0.00%USDY

Correlation

0.04over 30 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	EVAUSDT	USDY
Max drawdown (400d)	-1.2%	-0.9%
Risk-adjusted return (90d)	-0.07	0.15

Relative strength over 90 days: USDY outperformed EVAUSDT by 1.2% — measured on the EVAUSDT/USDY ratio, so it holds regardless of market direction.

evaUSDT →Ondo US Dollar Yield →