Direxion MU Bull 2X ETF (bStocks Tokenized Stock) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 19.0× the size of Direxion MU Bull 2X ETF (bStocks Tokenized Stock) (MUUB) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 55 shared trading days). MUUB has been the more volatile of the two, at 163% annualised against IVVON's 71%.

Correlation: 0.05
Size ratio: 1 : 19.0

Direxion MU Bull 2X ETF (bStocks Tokenized Stock)MUUB

$23.1500

24h: -1.12%
Market cap: $3.17M
Volume 24h: $653,879
Volatility (ann.): 163%

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

$773.9800

24h: +1.45%
Market cap: $60.26M
Volume 24h: $1,667
Volatility (ann.): 71%

MUUB 5.0%Share of the two combined market caps95.0% IVVON

Performance

MUUBIVVON

7 days-17.80%-1.45%IVVON
30 days-39.11%+9.76%IVVON
90 days-14.74%——

Correlation

0.05over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0690d: 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	MUUB	IVVON
Max drawdown (400d)	-46.3%	-15.7%
Risk-adjusted return (90d)	-0.12	-0.02

Relative strength over 90 days: IVVON outperformed MUUB by 24.6% — measured on the MUUB/IVVON ratio, so it holds regardless of market direction.

Direxion MU Bull 2X ETF (bStocks Tokenized Stock) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →