Nest BlackOpal LiquidStone II Vault vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 21.4× the size of Nest BlackOpal LiquidStone II Vault (NOPAL) by market capitalisation. Over the past 30 days, NOPAL is ahead by 0.4 percentage points (NOPAL +1.3% against USDY +0.9%). Their daily returns move barely in opposite directions (correlation -0.01 across 55 shared trading days). USDY has been the more volatile of the two, at 6% annualised against NOPAL's 2%.

Correlation: -0.01
Size ratio: 1 : 21.4
Ahead over 30 days: NOPAL

Nest BlackOpal LiquidStone II VaultNOPAL

$1.1100

24h: -0.00%
Market cap: $111.84M
Volume 24h: —
Volatility (ann.): 2%

Ondo US Dollar YieldUSDY

$1.1500

24h: -0.26%
Market cap: $2.39B
Volume 24h: $2.39M
Volatility (ann.): 6%

NOPAL 4.5%Share of the two combined market caps95.5% USDY

Performance

NOPALUSDY

7 days+0.00%+0.00%NOPAL
30 days+1.28%+0.88%NOPAL

Correlation

-0.01over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 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	NOPAL	USDY
Max drawdown (400d)	0.0%	-0.9%
Risk-adjusted return (90d)	0.83	0.15

Relative strength over 90 days: NOPAL outperformed USDY by 1.1% — measured on the NOPAL/USDY ratio, so it holds regardless of market direction.

Nest BlackOpal LiquidStone II Vault →Ondo US Dollar Yield →