Direxion Semiconductor Bear 3X ETF (bStocks Tokenized Stock) vs SP500 xStock

SP500 xStock (SPYX) is 62.7× the size of Direxion Semiconductor Bear 3X ETF (bStocks Tokenized Stock) (SOXSB) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.45 across 55 shared trading days). SOXSB has been the more volatile of the two, at 140% annualised against SPYX's 11%.

Correlation: -0.45
Size ratio: 1 : 62.7

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%

SP500 xStockSPYX

$766.4900

24h: +1.47%
Market cap: $71.48M
Volume 24h: $8.27M
Volatility (ann.): 11%

SOXSB 1.6%Share of the two combined market caps98.4% SPYX

Performance

SOXSBSPYX

7 days+22.14%-1.60%SOXSB
30 days+78.96%-1.10%SOXSB
90 days+15.41%——

Correlation

-0.45over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.5290d: 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	SPYX
Max drawdown (400d)	-59.9%	-2.7%
Risk-adjusted return (90d)	0.13	-0.14

Relative strength over 90 days: SOXSB outperformed SPYX by 15.9% — measured on the SOXSB/SPYX ratio, so it holds regardless of market direction.

Direxion Semiconductor Bear 3X ETF (bStocks Tokenized Stock) →SP500 xStock →