abrdn Physical Palladium Shares ETF (Ondo Tokenized ETF) vs SP500 xStock

SP500 xStock (SPYX) is 215.3× the size of abrdn Physical Palladium Shares ETF (Ondo Tokenized ETF) (PALLON) by market capitalisation. Over the past 30 days, SPYX is ahead by 16.7 percentage points (PALLON -17.8% against SPYX -1.1%). Their daily returns move barely together (correlation 0.35 across 20 shared trading days). PALLON has been the more volatile of the two, at 32% annualised against SPYX's 11%.

Correlation: 0.35
Size ratio: 1 : 215.3
Ahead over 30 days: SPYX

abrdn Physical Palladium Shares ETF (Ondo Tokenized ETF)PALLON

$85.0600

24h: -2.66%
Market cap: $331,993
Volume 24h: $19
Volatility (ann.): 32%

SP500 xStockSPYX

$766.1600

24h: +1.27%
Market cap: $71.48M
Volume 24h: $8.70M
Volatility (ann.): 11%

PALLON 0.5%Share of the two combined market caps99.5% SPYX

Performance

PALLONSPYX

7 days-7.28%-1.60%SPYX
30 days-17.81%-1.10%SPYX

Correlation

0.35over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	PALLON	SPYX
Max drawdown (400d)	-17.8%	-2.7%
Risk-adjusted return (90d)	-0.56	-0.14

Relative strength over 90 days: SPYX outperformed PALLON by 13.8% — measured on the PALLON/SPYX ratio, so it holds regardless of market direction.

abrdn Physical Palladium Shares ETF (Ondo Tokenized ETF) →SP500 xStock →