Midas M1 USD Market Neutral vs Midas mTBILL

Midas mTBILL (MTBILL) is 3.8× the size of Midas M1 USD Market Neutral (MM1-USD) by market capitalisation. Over the past 30 days, MM1-USD is ahead by 0.8 percentage points (MM1-USD +1.3% against MTBILL +0.5%). Their daily returns move loosely together (correlation 0.56 across 26 shared trading days). MM1-USD has been the more volatile of the two, at 3% annualised against MTBILL's 1%.

Correlation: 0.56
Size ratio: 1 : 3.8
Ahead over 30 days: MM1-USD

Midas M1 USD Market NeutralMM1-USD

$1.0370

24h: +0.00%
Market cap: $19.55M
Volume 24h: —
Volatility (ann.): 3%

Midas mTBILLMTBILL

$1.0770

24h: +0.00%
Market cap: $73.89M
Volume 24h: —
Volatility (ann.): 1%

MM1-USD 20.9%Share of the two combined market caps79.1% MTBILL

Performance

MM1-USDMTBILL

7 days+0.68%+0.09%MM1-USD
30 days+1.27%+0.47%MM1-USD

Correlation

0.56over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5690d: 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	MM1-USD	MTBILL
Max drawdown (400d)	0.0%	0.0%
Risk-adjusted return (90d)	0.48	0.93

Relative strength over 90 days: MM1-USD outperformed MTBILL by 0.7% — measured on the MM1-USD/MTBILL ratio, so it holds regardless of market direction.

Midas M1 USD Market Neutral →Midas mTBILL →