Global X Copper Miners ETF (Ondo Tokenized ETF) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 56.8× the size of Global X Copper Miners ETF (Ondo Tokenized ETF) (COPXON) by market capitalisation. Their daily returns move barely together (correlation 0.02 across 45 shared trading days). Both have run at a similar volatility, around 68% annualised.

Correlation: 0.02
Size ratio: 1 : 56.8

Global X Copper Miners ETF (Ondo Tokenized ETF)COPXON

$72.2400

24h: -2.94%
Market cap: $1.06M
Volume 24h: $670,099
Volatility (ann.): 66%

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%

COPXON 1.7%Share of the two combined market caps98.3% IVVON

Performance

COPXONIVVON

7 days-4.84%-1.45%IVVON
30 days-23.92%+9.76%IVVON
90 days-5.00%——

Correlation

0.02over 45 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0190d: 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	COPXON	IVVON
Max drawdown (400d)	-29.6%	-15.7%
Risk-adjusted return (90d)	-0.10	-0.02

Relative strength over 90 days: IVVON outperformed COPXON by 17.7% — measured on the COPXON/IVVON ratio, so it holds regardless of market direction.

Global X Copper Miners ETF (Ondo Tokenized ETF) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →