USDM1 vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 2296.3× the size of USDM1 (USDM1) by market capitalisation. Over the past 30 days, USDM1 is ahead by 0.3 percentage points (USDM1 +0.3% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.02 across 28 shared trading days). Both have run at a similar volatility, around 6% annualised.

Correlation: -0.02
Size ratio: 1 : 2296.3
Ahead over 30 days: USDM1

USDM1USDM1

$1.0210

24h: —
Market cap: $1.04M
Volume 24h: $1,327
Volatility (ann.): 6%

Ondo US Dollar YieldUSDY

$1.1500

24h: -0.05%
Market cap: $2.39B
Volume 24h: $4.24M
Volatility (ann.): 6%

USDM1 0.0%Share of the two combined market caps100.0% USDY

Performance

USDM1USDY

7 days+0.10%+0.00%USDM1
30 days+0.29%+0.00%USDM1

Correlation

-0.02over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0290d: 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	USDM1	USDY
Max drawdown (400d)	-1.2%	-0.9%
Risk-adjusted return (90d)	0.05	0.15

Relative strength over 90 days: USDY outperformed USDM1 by 0.6% — measured on the USDM1/USDY ratio, so it holds regardless of market direction.

USDM1 →Ondo US Dollar Yield →