Direxion Daily Semi Bull 3X ETF (Ondo Tokenized) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 86.8× the size of Direxion Daily Semi Bull 3X ETF (Ondo Tokenized) (SOXLON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.16 across 38 shared trading days). SOXLON has been the more volatile of the two, at 182% annualised against IVVON's 70%.

Correlation: -0.16
Size ratio: 1 : 86.8

Direxion Daily Semi Bull 3X ETF (Ondo Tokenized)SOXLON

$63.7500

24h: -10.56%
Market cap: $696,823
Volume 24h: $2.08M
Volatility (ann.): 182%

iShares Core S&P 500 ETF (Ondo Tokenized ETF)IVVON

$777.2600

24h: +1.77%
Market cap: $60.52M
Volume 24h: $159
Volatility (ann.): 70%

SOXLON 1.1%Share of the two combined market caps98.9% IVVON

Performance

SOXLONIVVON

7 days-50.74%+0.11%IVVON
30 days-31.48%+9.43%IVVON
90 days-62.73%——

Correlation

-0.16over 38 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1790d: 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	SOXLON	IVVON
Max drawdown (400d)	-62.8%	-15.7%
Risk-adjusted return (90d)	-0.35	0.01

Relative strength over 90 days: IVVON outperformed SOXLON by 42.3% — measured on the SOXLON/IVVON ratio, so it holds regardless of market direction.

Direxion Daily Semi Bull 3X ETF (Ondo Tokenized) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →