Nest Alpha Vault vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 197.0× the size of Nest Alpha Vault (NALPHA) by market capitalisation. Over the past 30 days, NALPHA is ahead by 0.9 percentage points (NALPHA +0.9% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.02 across 22 shared trading days). USDY has been the more volatile of the two, at 6% annualised against NALPHA's 3%.

Correlation: -0.02
Size ratio: 1 : 197.0
Ahead over 30 days: NALPHA

Nest Alpha VaultNALPHA

$1.1300

24h: +0.04%
Market cap: $12.16M
Volume 24h: —
Volatility (ann.): 3%

Ondo US Dollar YieldUSDY

$1.1500

24h: -0.12%
Market cap: $2.39B
Volume 24h: $2.53M
Volatility (ann.): 6%

NALPHA 0.5%Share of the two combined market caps99.5% USDY

Performance

NALPHAUSDY

7 days+0.00%+0.00%NALPHA
30 days+0.90%+0.00%NALPHA

Correlation

-0.02over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	NALPHA	USDY
Max drawdown (400d)	0.0%	-0.9%
Risk-adjusted return (90d)	0.29	0.15

Relative strength over 90 days: NALPHA outperformed USDY by 0.0% — measured on the NALPHA/USDY ratio, so it holds regardless of market direction.

Nest Alpha Vault →Ondo US Dollar Yield →