Sygnum FIUSD Liquidity Fund vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 49.6× the size of Sygnum FIUSD Liquidity Fund (FIUSD) by market capitalisation. Over the past 30 days, FIUSD is ahead by 0.5 percentage points (FIUSD +0.5% against USDY +0.0%). Their daily returns move barely together (correlation 0.01 across 50 shared trading days). USDY has been the more volatile of the two, at 6% annualised against FIUSD's 1%.

Correlation: 0.01
Size ratio: 1 : 49.6
Ahead over 30 days: FIUSD

Sygnum FIUSD Liquidity FundFIUSD

$12,087.47

24h: +0.01%
Market cap: $48.32M
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%

FIUSD 2.0%Share of the two combined market caps98.0% USDY

Performance

FIUSDUSDY

7 days+0.08%+0.00%FIUSD
30 days+0.54%+0.00%FIUSD

Correlation

0.01over 50 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 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	FIUSD	USDY
Max drawdown (400d)	0.0%	-0.9%
Risk-adjusted return (90d)	1.35	0.15

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

Sygnum FIUSD Liquidity Fund →Ondo US Dollar Yield →