Direxion Semiconductor Bear 3X ETF (bStocks Tokenized Stock) vs Tether Gold

Tether Gold (XAUT) is 2860.2× the size of Direxion Semiconductor Bear 3X ETF (bStocks Tokenized Stock) (SOXSB) by market capitalisation. Over the past 90 days, SOXSB is ahead by 23.0 percentage points (SOXSB +15.4% against XAUT -7.6%). Their daily returns move barely in opposite directions (correlation -0.28 across 98 shared trading days). SOXSB has been the more volatile of the two, at 140% annualised against XAUT's 24%.

Correlation: -0.28
Size ratio: 1 : 2860.2
Ahead over 90 days: SOXSB

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%

Tether GoldXAUT

$4,033.02

24h: +3.41%
Market cap: $3.26B
Volume 24h: $264.22M
Volatility (ann.): 24%

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

Performance

SOXSBXAUT

7 days+22.14%-3.11%SOXSB
30 days+78.96%-5.07%SOXSB
90 days+15.41%-7.64%SOXSB

Correlation

-0.28over 98 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3590d: -0.331y: 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	XAUT
Max drawdown (400d)	-59.9%	-19.4%
Risk-adjusted return (90d)	0.13	-0.36

Relative strength over 90 days: SOXSB outperformed XAUT by 24.9% — measured on the SOXSB/XAUT ratio, so it holds regardless of market direction.

Direxion Semiconductor Bear 3X ETF (bStocks Tokenized Stock) →Tether Gold →