USDai vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 15.2× the size of USDai (USDAI) by market capitalisation. Over the past 30 days, USDY is ahead by 0.9 percentage points (USDAI -0.0% against USDY +0.9%). Their daily returns move barely in opposite directions (correlation -0.12 across 59 shared trading days). USDY has been the more volatile of the two, at 6% annualised against USDAI's 1%.

Correlation: -0.12
Size ratio: 1 : 15.2
Ahead over 30 days: USDY

USDaiUSDAI

$0.999542

24h: +0.08%
Market cap: $157.66M
Volume 24h: $609,415
Volatility (ann.): 1%

Ondo US Dollar YieldUSDY

$1.1500

24h: -0.01%
Market cap: $2.39B
Volume 24h: $4.03M
Volatility (ann.): 6%

USDAI 6.2%Share of the two combined market caps93.8% USDY

Performance

USDAIUSDY

7 days+0.03%+0.00%USDAI
30 days-0.04%+0.88%USDY

Correlation

-0.12over 59 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0490d: 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	USDAI	USDY
Max drawdown (400d)	-0.2%	-0.9%
Risk-adjusted return (90d)	0.07	0.15

Relative strength over 90 days: USDY outperformed USDAI by 0.8% — measured on the USDAI/USDY ratio, so it holds regardless of market direction.

USDai →Ondo US Dollar Yield →