USP Yield Optimized Stablecoin vs Galaxy USDC Quality (Ethereum)

Galaxy USDC Quality (Ethereum) (ETH:GUSDCQ) is 2.1× the size of USP Yield Optimized Stablecoin (USP) by market capitalisation. Over the past 30 days, USP is ahead by 1.4 percentage points (USP +1.8% against ETH:GUSDCQ +0.4%). Their daily returns move barely in opposite directions (correlation -0.23 across 31 shared trading days). USP has been the more volatile of the two, at 9% annualised against ETH:GUSDCQ's 2%.

Correlation: -0.23
Size ratio: 1 : 2.1
Ahead over 30 days: USP

USP Yield Optimized StablecoinUSP

$1.1500

24h: +0.01%
Market cap: $4.82M
Volume 24h: $875
Volatility (ann.): 9%

Galaxy USDC Quality (Ethereum)ETH:GUSDCQ

$1.0220

24h: +0.04%
Market cap: $10.11M
Volume 24h: —
Volatility (ann.): 2%

USP 32.3%Share of the two combined market caps67.7% ETH:GUSDCQ

Performance

USPETH:GUSDCQ

7 days+0.00%+0.10%ETH:GUSDCQ
30 days+1.77%+0.39%USP

Correlation

-0.23over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2390d: 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	USP	ETH:GUSDCQ
Max drawdown (400d)	-0.9%	-0.3%
Risk-adjusted return (90d)	0.19	0.19

Relative strength over 90 days: USP outperformed ETH:GUSDCQ by 0.5% — measured on the USP/ETH:GUSDCQ ratio, so it holds regardless of market direction.

USP Yield Optimized Stablecoin →Galaxy USDC Quality (Ethereum) →