Spiko Amundi Overnight Swap Fund vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 10.0× the size of Spiko Amundi Overnight Swap Fund (SAFO) by market capitalisation. Over the past 30 days, SAFO is ahead by 0.6 percentage points (SAFO +0.6% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.14 across 56 shared trading days). USDY has been the more volatile of the two, at 6% annualised against SAFO's 1%.

Correlation: -0.14
Size ratio: 1 : 10.0
Ahead over 30 days: SAFO

Spiko Amundi Overnight Swap FundSAFO

$1.0270

24h: +0.01%
Market cap: $240.43M
Volume 24h: —
Volatility (ann.): 1%

Ondo US Dollar YieldUSDY

$1.1500

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

SAFO 9.1%Share of the two combined market caps90.9% USDY

Performance

SAFOUSDY

7 days+0.10%+0.00%SAFO
30 days+0.59%+0.00%SAFO

Correlation

-0.14over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0590d: 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	SAFO	USDY
Max drawdown (400d)	0.0%	-0.9%
Risk-adjusted return (90d)	1.13	0.15

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

Spiko Amundi Overnight Swap Fund →Ondo US Dollar Yield →