USP Yield Optimized Stablecoin vs Ondo US Dollar Yield

Ondo US Dollar Yield (USDY) is 495.8× the size of USP Yield Optimized Stablecoin (USP) by market capitalisation. Over the past 30 days, USP is ahead by 1.8 percentage points (USP +1.8% against USDY +0.0%). Their daily returns move barely in opposite directions (correlation -0.15 across 31 shared trading days). USP has been the more volatile of the two, at 9% annualised against USDY's 6%.

Correlation: -0.15
Size ratio: 1 : 495.8
Ahead over 30 days: USP

USP Yield Optimized StablecoinUSP

$1.1500

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

Ondo US Dollar YieldUSDY

$1.1500

24h: -0.15%
Market cap: $2.39B
Volume 24h: $3.98M
Volatility (ann.): 6%

USP 0.2%Share of the two combined market caps99.8% USDY

Performance

USPUSDY

7 days+0.00%+0.00%USP
30 days+1.77%+0.00%USP

Correlation

-0.15over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1590d: 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	USDY
Max drawdown (400d)	-0.9%	-0.9%
Risk-adjusted return (90d)	0.19	0.15

Relative strength over 90 days: USP outperformed USDY by 0.9% — measured on the USP/USDY ratio, so it holds regardless of market direction.

USP Yield Optimized Stablecoin →Ondo US Dollar Yield →