Global X Copper Miners ETF (Ondo Tokenized ETF) vs SP500 xStock

SP500 xStock (SPYX) is 67.3× the size of Global X Copper Miners ETF (Ondo Tokenized ETF) (COPXON) by market capitalisation. Their daily returns move barely together (correlation 0.34 across 45 shared trading days). COPXON has been the more volatile of the two, at 66% annualised against SPYX's 11%.

Correlation: 0.34
Size ratio: 1 : 67.3

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%

SP500 xStockSPYX

$766.4900

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

COPXON 1.5%Share of the two combined market caps98.5% SPYX

Performance

COPXONSPYX

7 days-4.84%-1.60%SPYX
30 days-23.92%-1.10%SPYX
90 days-5.00%——

Correlation

0.34over 45 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3290d: 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	SPYX
Max drawdown (400d)	-29.6%	-2.7%
Risk-adjusted return (90d)	-0.10	-0.14

Relative strength over 90 days: SPYX outperformed COPXON by 17.4% — measured on the COPXON/SPYX ratio, so it holds regardless of market direction.

Global X Copper Miners ETF (Ondo Tokenized ETF) →SP500 xStock →