Fidelity USD Digital Liquidity Fund-Acc vs Sygnum FIUSD Liquidity Fund

Sygnum FIUSD Liquidity Fund (FIUSD) is 1.9× the size of Fidelity USD Digital Liquidity Fund-Acc (FILQ-A) by market capitalisation. Over the past 30 days, FILQ-A is ahead by 0.0 percentage points (FILQ-A +0.6% against FIUSD +0.5%). Their daily returns move very closely together (correlation 0.99 across 47 shared trading days). FILQ-A has been the more volatile of the two, at 1% annualised against FIUSD's 1%.

Correlation: 0.99
Size ratio: 1 : 1.9
Ahead over 30 days: FILQ-A

Fidelity USD Digital Liquidity Fund-AccFILQ-A

$101.7100

24h: +0.01%
Market cap: $25.59M
Volume 24h: —
Volatility (ann.): 1%

Sygnum FIUSD Liquidity FundFIUSD

$12,088.77

24h: +0.01%
Market cap: $48.33M
Volume 24h: —
Volatility (ann.): 1%

FILQ-A 34.6%Share of the two combined market caps65.4% FIUSD

Performance

FILQ-AFIUSD

7 days+0.07%+0.08%FIUSD
30 days+0.56%+0.54%FILQ-A

Correlation

0.99over 47 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 1.0090d: 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	FILQ-A	FIUSD
Max drawdown (400d)	0.0%	0.0%
Risk-adjusted return (90d)	0.96	1.35

Relative strength over 90 days: FIUSD outperformed FILQ-A by 0.1% — measured on the FILQ-A/FIUSD ratio, so it holds regardless of market direction.

Fidelity USD Digital Liquidity Fund-Acc →Sygnum FIUSD Liquidity Fund →