Direxion Semiconductor Bear 3X 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 52.9× the size of Direxion Semiconductor Bear 3X ETF (bStocks Tokenized Stock) (SOXSB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.05 across 55 shared trading days). SOXSB has been the more volatile of the two, at 140% annualised against IVVON's 71%.

Correlation: -0.05
Size ratio: 1 : 52.9

Direxion Semiconductor Bear 3X ETF (bStocks Tokenized Stock)SOXSB

$50.9100

24h: +1.48%
Market cap: $1.14M
Volume 24h: $3.32M
Volatility (ann.): 140%

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

$774.5700

24h: +1.17%
Market cap: $60.31M
Volume 24h: $1,651
Volatility (ann.): 71%

SOXSB 1.9%Share of the two combined market caps98.1% IVVON

Performance

SOXSBIVVON

7 days+22.14%-1.45%SOXSB
30 days+78.96%+9.76%SOXSB
90 days+15.41%——

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	SOXSB	IVVON
Max drawdown (400d)	-59.9%	-15.7%
Risk-adjusted return (90d)	0.13	-0.02

Relative strength over 90 days: SOXSB outperformed IVVON by 15.5% — measured on the SOXSB/IVVON ratio, so it holds regardless of market direction.

Direxion Semiconductor Bear 3X ETF (bStocks Tokenized Stock) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →