Ondo US Dollar Yield (USDY) is 36897.3× the size of Lympid (LYP) by market capitalisation. Their daily returns move barely together (correlation 0.16 across 44 shared trading days). LYP has been the more volatile of the two, at 120% annualised against USDY's 6%.
LYPUSDY
0.16over 44 shared trading days
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.
| Metric | LYP | USDY |
|---|---|---|
| Max drawdown (400d) | -95.0% | -0.9% |
| Risk-adjusted return (90d) | -0.45 | 0.15 |
| Best 30 days (past year) | +37.3% | — |
| Worst 30 days (past year) | -63.5% | — |
Relative strength over 90 days: USDY outperformed LYP by 38.4% — measured on the LYP/USDY ratio, so it holds regardless of market direction.