OnRe Tokenized Reinsurance vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 20.1× the size of OnRe Tokenized Reinsurance (ONYC) by market capitalisation. Over the past 30 days, ONYC is ahead by 0.9 percentage points (ONYC +1.8% against USDY +0.9%). Their daily returns move barely together (correlation 0.12 across 55 shared trading days). Both have run at a similar volatility, around 6% annualised.

Correlation: 0.12
Size ratio: 1 : 20.1
Ahead over 30 days: ONYC

OnRe Tokenized ReinsuranceONYC

$1.1600

24h: +0.26%
Market cap: $119.20M
Volume 24h: $2.89M
Volatility (ann.): 7%

Ondo US Dollar YieldUSDY

$1.1500

24h: +0.06%
Market cap: $2.39B
Volume 24h: $2.38M
Volatility (ann.): 6%

ONYC 4.7%Share of the two combined market caps95.3% USDY

Performance

ONYCUSDY

7 days+0.00%+0.00%ONYC
30 days+1.75%+0.88%ONYC

Correlation

0.12over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2090d: 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	ONYC	USDY
Max drawdown (400d)	-0.9%	-0.9%
Risk-adjusted return (90d)	0.40	0.15

Relative strength over 90 days: ONYC outperformed USDY by 1.8% — measured on the ONYC/USDY ratio, so it holds regardless of market direction.

OnRe Tokenized Reinsurance →Ondo US Dollar Yield →