Theo Short Duration US Treasury Fund vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 20.4× the size of Theo Short Duration US Treasury Fund (THBILL) by market capitalisation. Over the past 30 days, USDY is ahead by 0.6 percentage points (THBILL -0.6% against USDY +0.0%). Their daily returns move barely together (correlation 0.10 across 56 shared trading days). USDY has been the more volatile of the two, at 6% annualised against THBILL's 3%.

Correlation: 0.10
Size ratio: 1 : 20.4
Ahead over 30 days: USDY

Theo Short Duration US Treasury FundTHBILL

$1.0120

24h: +0.02%
Market cap: $117.19M
Volume 24h: $74
Volatility (ann.): 3%

Ondo US Dollar YieldUSDY

$1.1500

24h: -0.16%
Market cap: $2.39B
Volume 24h: $4.02M
Volatility (ann.): 6%

THBILL 4.7%Share of the two combined market caps95.3% USDY

Performance

THBILLUSDY

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

Correlation

0.10over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0190d: 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	USDY
Max drawdown (400d)	-0.9%	-0.9%
Risk-adjusted return (90d)	-0.19	0.15

Relative strength over 90 days: USDY outperformed THBILL by 1.4% — measured on the THBILL/USDY ratio, so it holds regardless of market direction.

Theo Short Duration US Treasury Fund →Ondo US Dollar Yield →