Robinhood Markets (Backpack Securities) vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 4210.3× the size of Robinhood Markets (Backpack Securities) (HOOD) by market capitalisation. Over the past 30 days, USDY is ahead by 27.2 percentage points (HOOD -27.2% against USDY +0.0%). Their daily returns move barely together (correlation 0.09 across 28 shared trading days). HOOD has been the more volatile of the two, at 107% annualised against USDY's 6%.

Correlation: 0.09
Size ratio: 1 : 4210.3
Ahead over 30 days: USDY

Robinhood Markets (Backpack Securities)HOOD

$84.2500

24h: +0.04%
Market cap: $569,008
Volume 24h: $210,947
Volatility (ann.): 107%

Ondo US Dollar YieldUSDY

$1.1500

24h: +0.12%
Market cap: $2.40B
Volume 24h: $2.78M
Volatility (ann.): 6%

HOOD 0.0%Share of the two combined market caps100.0% USDY

Performance

HOODUSDY

7 days-4.63%+0.00%USDY
30 days-27.21%+0.00%USDY

Correlation

0.09over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0990d: 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	HOOD	USDY
Max drawdown (400d)	-33.8%	-0.9%
Risk-adjusted return (90d)	-0.17	0.15

Relative strength over 90 days: USDY outperformed HOOD by 19.1% — measured on the HOOD/USDY ratio, so it holds regardless of market direction.

Robinhood Markets (Backpack Securities) →Ondo US Dollar Yield →