BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 1047.2× the size of BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF) (WTSGOV) by market capitalisation. Over the past 30 days, SPYON is ahead by 0.3 percentage points (WTSGOV +0.5% against SPYON +0.8%). Their daily returns move barely together (correlation 0.12 across 32 shared trading days). SPYON has been the more volatile of the two, at 10% annualised against WTSGOV's 4%.

Correlation: 0.12
Size ratio: 1 : 1047.2
Ahead over 30 days: SPYON

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%

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

$737.4400

24h: -4.59%
Market cap: $45.11M
Volume 24h: $1.61M
Volatility (ann.): 10%

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

Performance

WTSGOVSPYON

7 days-0.08%-0.31%WTSGOV
30 days+0.53%+0.82%SPYON

Correlation

0.12over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1290d: 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	SPYON
Max drawdown (400d)	-0.7%	-2.5%
Risk-adjusted return (90d)	0.18	0.02

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

BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →