BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF) vs Tether Gold

Tether Gold (XAUT) is 76433.0× the size of BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF) (WTSGOV) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 39 shared trading days). XAUT has been the more volatile of the two, at 24% annualised against WTSGOV's 4%.

Correlation: 0.23
Size ratio: 1 : 76433.0

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%

Tether GoldXAUT

$4,074.58

24h: +0.66%
Market cap: $3.29B
Volume 24h: $413.59M
Volatility (ann.): 24%

WTSGOV 0.0%Share of the two combined market caps100.0% XAUT

Performance

WTSGOVXAUT

7 days-0.08%+0.05%XAUT
30 days+0.53%-2.08%WTSGOV
90 days—-4.40%—

Correlation

0.23over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2390d: 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	XAUT
Max drawdown (400d)	-0.7%	-19.4%
Risk-adjusted return (90d)	0.18	-0.20

Relative strength over 90 days: WTSGOV outperformed XAUT by 7.6% — measured on the WTSGOV/XAUT ratio, so it holds regardless of market direction.

BlackRock iShares 0-3 Month Treasury Bond (ST0x Tokenized ETF) →Tether Gold →