Hamilton Lane Senior Credit Opportunities Securitize Fund vs Tether Gold

Tether Gold (XAUT) is 862.2× the size of Hamilton Lane Senior Credit Opportunities Securitize Fund (HLSCOPE) by market capitalisation. Their daily returns move barely together (correlation 0.31 across 31 shared trading days). XAUT has been the more volatile of the two, at 24% annualised against HLSCOPE's 2%.

Correlation: 0.31
Size ratio: 1 : 862.2

Hamilton Lane Senior Credit Opportunities Securitize FundHLSCOPE

$1,272.55

24h: +0.03%
Market cap: $3.77M
Volume 24h: —
Volatility (ann.): 2%

Tether GoldXAUT

$4,020.22

24h: +2.42%
Market cap: $3.25B
Volume 24h: $254.02M
Volatility (ann.): 24%

HLSCOPE 0.1%Share of the two combined market caps99.9% XAUT

Performance

HLSCOPEXAUT

7 days+0.00%-3.11%HLSCOPE
30 days+0.24%-5.07%HLSCOPE
90 days—-7.64%—

Correlation

0.31over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3190d: 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	HLSCOPE	XAUT
Max drawdown (400d)	-0.3%	-19.4%
Risk-adjusted return (90d)	0.13	-0.36

Relative strength over 90 days: HLSCOPE outperformed XAUT by 6.5% — measured on the HLSCOPE/XAUT ratio, so it holds regardless of market direction.

Hamilton Lane Senior Credit Opportunities Securitize Fund →Tether Gold →