iShares Silver Trust xStock vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 1454.6× the size of iShares Silver Trust xStock (SLVX) by market capitalisation. Over the past 30 days, USDY is ahead by 15.4 percentage points (SLVX -15.4% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.17 across 26 shared trading days). SLVX has been the more volatile of the two, at 59% annualised against USDY's 6%.

Correlation: -0.17
Size ratio: 1 : 1454.6
Ahead over 30 days: USDY

iShares Silver Trust xStockSLVX

$45.4600

24h: -0.48%
Market cap: $1.65M
Volume 24h: $5,251
Volatility (ann.): 59%

Ondo US Dollar YieldUSDY

$1.1500

24h: +0.12%
Market cap: $2.40B
Volume 24h: $2.78M
Volatility (ann.): 6%

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

Performance

SLVXUSDY

7 days-10.01%+0.00%USDY
30 days-15.39%+0.00%USDY

Correlation

-0.17over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1790d: 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	SLVX	USDY
Max drawdown (400d)	-21.1%	-0.9%
Risk-adjusted return (90d)	-0.27	0.15

Relative strength over 90 days: USDY outperformed SLVX by 16.7% — measured on the SLVX/USDY ratio, so it holds regardless of market direction.

iShares Silver Trust xStock →Ondo US Dollar Yield →