abrdn Physical Palladium Shares ETF (Ondo Tokenized ETF) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 141.7× the size of abrdn Physical Palladium Shares ETF (Ondo Tokenized ETF) (PALLON) by market capitalisation. Over the past 30 days, SPYON is ahead by 16.6 percentage points (PALLON -17.8% against SPYON -1.2%). Their daily returns move barely together (correlation 0.33 across 22 shared trading days). PALLON has been the more volatile of the two, at 32% annualised against SPYON's 10%.

Correlation: 0.33
Size ratio: 1 : 141.7
Ahead over 30 days: SPYON

abrdn Physical Palladium Shares ETF (Ondo Tokenized ETF)PALLON

$85.0600

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

SPDR S&P 500 ETF (Ondo Tokenized ETF)SPYON

$766.6300

24h: +0.93%
Market cap: $47.03M
Volume 24h: $1.56M
Volatility (ann.): 10%

PALLON 0.7%Share of the two combined market caps99.3% SPYON

Performance

PALLONSPYON

7 days-7.28%-1.77%SPYON
30 days-17.81%-1.20%SPYON

Correlation

0.33over 22 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	SPYON
Max drawdown (400d)	-17.8%	-2.5%
Risk-adjusted return (90d)	-0.56	-0.12

Relative strength over 90 days: SPYON outperformed PALLON by 14.2% — measured on the PALLON/SPYON ratio, so it holds regardless of market direction.

abrdn Physical Palladium Shares ETF (Ondo Tokenized ETF) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →