Midas mBASIS vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 458.3× the size of Midas mBASIS (MBASIS) by market capitalisation. Over the past 30 days, USDY is ahead by 11.0 percentage points (MBASIS -11.0% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.01 across 27 shared trading days). MBASIS has been the more volatile of the two, at 153% annualised against USDY's 6%.

Correlation: -0.01
Size ratio: 1 : 458.3
Ahead over 30 days: USDY

Midas mBASISMBASIS

$1.2200

24h: +0.00%
Market cap: $5.23M
Volume 24h: —
Volatility (ann.): 153%

Ondo US Dollar YieldUSDY

$1.1500

24h: -0.12%
Market cap: $2.40B
Volume 24h: $4.00M
Volatility (ann.): 6%

MBASIS 0.2%Share of the two combined market caps99.8% USDY

Performance

MBASISUSDY

7 days-11.72%+0.00%USDY
30 days-10.99%+0.00%USDY

Correlation

-0.01over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0190d: 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	MBASIS	USDY
Max drawdown (400d)	-27.9%	-0.9%
Risk-adjusted return (90d)	-0.07	0.15

Relative strength over 90 days: USDY outperformed MBASIS by 11.8% — measured on the MBASIS/USDY ratio, so it holds regardless of market direction.

Midas mBASIS →Ondo US Dollar Yield →