Galaxy USDC Quality (Ethereum) vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 236.8× the size of Galaxy USDC Quality (Ethereum) (ETH:GUSDCQ) by market capitalisation. Over the past 30 days, ETH:GUSDCQ is ahead by 0.4 percentage points (ETH:GUSDCQ +0.4% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.15 across 22 shared trading days). USDY has been the more volatile of the two, at 6% annualised against ETH:GUSDCQ's 2%.

Correlation: -0.15
Size ratio: 1 : 236.8
Ahead over 30 days: ETH:GUSDCQ

Galaxy USDC Quality (Ethereum)ETH:GUSDCQ

$1.0220

24h: +0.04%
Market cap: $10.11M
Volume 24h: —
Volatility (ann.): 2%

Ondo US Dollar YieldUSDY

$1.1500

24h: +0.08%
Market cap: $2.39B
Volume 24h: $2.60M
Volatility (ann.): 6%

ETH:GUSDCQ 0.4%Share of the two combined market caps99.6% USDY

Performance

ETH:GUSDCQUSDY

7 days+0.10%+0.00%ETH:GUSDCQ
30 days+0.39%+0.00%ETH:GUSDCQ

Correlation

-0.15over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	ETH:GUSDCQ	USDY
Max drawdown (400d)	-0.3%	-0.9%
Risk-adjusted return (90d)	0.19	0.15

Relative strength over 90 days: USDY outperformed ETH:GUSDCQ by 0.5% — measured on the ETH:GUSDCQ/USDY ratio, so it holds regardless of market direction.

Galaxy USDC Quality (Ethereum) →Ondo US Dollar Yield →