BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF) vs SP500 xStock

SP500 xStock (SPYX) is 1659.4× the size of BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF) (WTSGOV) by market capitalisation. Over the past 30 days, SPYX is ahead by 0.5 percentage points (WTSGOV +0.5% against SPYX +1.0%). Their daily returns move barely together (correlation 0.21 across 30 shared trading days). SPYX has been the more volatile of the two, at 11% annualised against WTSGOV's 4%.

Correlation: 0.21
Size ratio: 1 : 1659.4
Ahead over 30 days: SPYX

BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF)WTSGOV

$102.0500

24h: +0.11%
Market cap: $43,080
Volume 24h: $286,067
Volatility (ann.): 4%

SP500 xStockSPYX

$735.7900

24h: -4.84%
Market cap: $71.49M
Volume 24h: $11.40M
Volatility (ann.): 11%

WTSGOV 0.1%Share of the two combined market caps99.9% SPYX

Performance

WTSGOVSPYX

7 days-0.08%-0.05%SPYX
30 days+0.53%+1.05%SPYX

Correlation

0.21over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2190d: 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	WTSGOV	SPYX
Max drawdown (400d)	-0.7%	-2.7%
Risk-adjusted return (90d)	0.18	0.01

Relative strength over 90 days: SPYX outperformed WTSGOV by 0.3% — measured on the WTSGOV/SPYX ratio, so it holds regardless of market direction.

BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF) →SP500 xStock →