Theo Short Duration US Treasury Fund vs Circle USYC

Circle USYC (USYC) is 19.1× the size of Theo Short Duration US Treasury Fund (THBILL) by market capitalisation. Over the past 30 days, USYC is ahead by 0.6 percentage points (THBILL -0.6% against USYC +0.0%). Their daily returns move barely together (correlation 0.26 across 55 shared trading days). THBILL has been the more volatile of the two, at 3% annualised against USYC's 2%.

Correlation: 0.26
Size ratio: 1 : 19.1
Ahead over 30 days: USYC

Theo Short Duration US Treasury FundTHBILL

$1.0120

24h: +0.03%
Market cap: $117.18M
Volume 24h: $74
Volatility (ann.): 3%

Circle USYCUSYC

$1.1400

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

THBILL 5.0%Share of the two combined market caps95.0% USYC

Performance

THBILLUSYC

7 days-0.59%+0.00%USYC
30 days-0.59%+0.00%USYC

Correlation

0.26over 55 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	THBILL	USYC
Max drawdown (400d)	-0.9%	0.0%
Risk-adjusted return (90d)	-0.19	0.39

Relative strength over 90 days: USYC outperformed THBILL by 1.5% — measured on the THBILL/USYC ratio, so it holds regardless of market direction.

Theo Short Duration US Treasury Fund →Circle USYC →