OpenAI (Republic Pre-IPO) vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 102.2× the size of OpenAI (Republic Pre-IPO) (PREOPAI) by market capitalisation. Over the past 30 days, PREOPAI is ahead by 6.5 percentage points (PREOPAI +6.5% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.19 across 27 shared trading days). PREOPAI has been the more volatile of the two, at 53% annualised against USDY's 6%.

Correlation: -0.19
Size ratio: 1 : 102.2
Ahead over 30 days: PREOPAI

OpenAI (Republic Pre-IPO)PREOPAI

$805.5200

24h: -1.36%
Market cap: $23.43M
Volume 24h: $113,299
Volatility (ann.): 53%

Ondo US Dollar YieldUSDY

$1.1500

24h: +0.03%
Market cap: $2.39B
Volume 24h: $3.89M
Volatility (ann.): 6%

PREOPAI 1.0%Share of the two combined market caps99.0% USDY

Performance

PREOPAIUSDY

7 days-8.46%+0.00%USDY
30 days+6.50%+0.00%PREOPAI

Correlation

-0.19over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1990d: 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	PREOPAI	USDY
Max drawdown (400d)	-16.7%	-0.9%
Risk-adjusted return (90d)	0.14	0.15

Relative strength over 90 days: PREOPAI outperformed USDY by 6.4% — measured on the PREOPAI/USDY ratio, so it holds regardless of market direction.

OpenAI (Republic Pre-IPO) →Ondo US Dollar Yield →