SP500 xStock vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 33.1× the size of SP500 xStock (SPYX) by market capitalisation. Over the past 30 days, USDY is ahead by 1.1 percentage points (SPYX -1.1% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.04 across 52 shared trading days). SPYX has been the more volatile of the two, at 11% annualised against USDY's 6%.

Correlation: -0.04
Size ratio: 1 : 33.1
Ahead over 30 days: USDY

SP500 xStockSPYX

$773.2300

24h: +1.78%
Market cap: $72.29M
Volume 24h: $9.69M
Volatility (ann.): 11%

Ondo US Dollar YieldUSDY

$1.1500

24h: -0.03%
Market cap: $2.39B
Volume 24h: $4.22M
Volatility (ann.): 6%

SPYX 2.9%Share of the two combined market caps97.1% USDY

Performance

SPYXUSDY

7 days-1.60%+0.00%USDY
30 days-1.10%+0.00%USDY

Correlation

-0.04over 52 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1290d: 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	SPYX	USDY
Max drawdown (400d)	-2.7%	-0.9%
Risk-adjusted return (90d)	-0.14	0.15

Relative strength over 90 days: USDY outperformed SPYX by 2.4% — measured on the SPYX/USDY ratio, so it holds regardless of market direction.

SP500 xStock →Ondo US Dollar Yield →