Midas mTBILL vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 32.5× the size of Midas mTBILL (MTBILL) by market capitalisation. Over the past 30 days, MTBILL is ahead by 0.5 percentage points (MTBILL +0.5% against USDY +0.0%). Their daily returns move barely together (correlation 0.12 across 52 shared trading days). USDY has been the more volatile of the two, at 6% annualised against MTBILL's 1%.

Correlation: 0.12
Size ratio: 1 : 32.5
Ahead over 30 days: MTBILL

Midas mTBILLMTBILL

$1.0770

24h: +0.04%
Market cap: $73.48M
Volume 24h: —
Volatility (ann.): 1%

Ondo US Dollar YieldUSDY

$1.1500

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

MTBILL 3.0%Share of the two combined market caps97.0% USDY

Performance

MTBILLUSDY

7 days+0.09%+0.00%MTBILL
30 days+0.47%+0.00%MTBILL

Correlation

0.12over 52 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 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	MTBILL	USDY
Max drawdown (400d)	0.0%	-0.9%
Risk-adjusted return (90d)	0.93	0.15

Relative strength over 90 days: USDY outperformed MTBILL by 0.2% — measured on the MTBILL/USDY ratio, so it holds regardless of market direction.

Midas mTBILL →Ondo US Dollar Yield →