Micron Technology (Backpack Securities) vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 371.7× the size of Micron Technology (Backpack Securities) (MU) by market capitalisation. Over the past 30 days, USDY is ahead by 14.7 percentage points (MU -14.7% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.09 across 32 shared trading days). MU has been the more volatile of the two, at 72% annualised against USDY's 6%.

Correlation: -0.09
Size ratio: 1 : 371.7
Ahead over 30 days: USDY

Micron Technology (Backpack Securities)MU

$839.5400

24h: -0.83%
Market cap: $6.43M
Volume 24h: $6.64M
Volatility (ann.): 72%

Ondo US Dollar YieldUSDY

$1.1500

24h: +0.09%
Market cap: $2.39B
Volume 24h: $4.03M
Volatility (ann.): 6%

MU 0.3%Share of the two combined market caps99.7% USDY

Performance

MUUSDY

7 days-7.86%+0.00%USDY
30 days-14.71%+0.00%USDY

Correlation

-0.09over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0990d: 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	MU	USDY
Max drawdown (400d)	-23.8%	-0.9%
Risk-adjusted return (90d)	-0.12	0.15

Relative strength over 90 days: USDY outperformed MU by 9.4% — measured on the MU/USDY ratio, so it holds regardless of market direction.

Micron Technology (Backpack Securities) →Ondo US Dollar Yield →