Invesco Short Duration US Government Securities Fund vs Circle USYC

Circle USYC (USYC) is 3.5× the size of Invesco Short Duration US Government Securities Fund (USTB) by market capitalisation. Over the past 30 days, USTB is ahead by 0.5 percentage points (USTB +0.5% against USYC +0.0%). Their daily returns move barely together (correlation 0.27 across 56 shared trading days). USYC has been the more volatile of the two, at 2% annualised against USTB's 1%.

Correlation: 0.27
Size ratio: 1 : 3.5
Ahead over 30 days: USTB

Invesco Short Duration US Government Securities FundUSTB

$11.2700

24h: +0.04%
Market cap: $635.53M
Volume 24h: —
Volatility (ann.): 1%

Circle USYCUSYC

$1.1400

24h: +0.01%
Market cap: $2.24B
Volume 24h: —
Volatility (ann.): 2%

USTB 22.1%Share of the two combined market caps77.9% USYC

Performance

USTBUSYC

7 days+0.09%+0.00%USTB
30 days+0.54%+0.00%USTB

Correlation

0.27over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	USTB	USYC
Max drawdown (400d)	0.0%	0.0%
Risk-adjusted return (90d)	1.15	0.39

Relative strength over 90 days: USYC outperformed USTB by 0.1% — measured on the USTB/USYC ratio, so it holds regardless of market direction.

Invesco Short Duration US Government Securities Fund →Circle USYC →