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

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 44.4× the size of Global X Copper Miners ETF (Ondo Tokenized ETF) (COPXON) by market capitalisation. Their daily returns move loosely together (correlation 0.38 across 45 shared trading days). COPXON has been the more volatile of the two, at 66% annualised against SPYON's 10%.

Correlation: 0.38
Size ratio: 1 : 44.4

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%

SPDR S&P 500 ETF (Ondo Tokenized ETF)SPYON

$768.2800

24h: +1.15%
Market cap: $47.12M
Volume 24h: $1.56M
Volatility (ann.): 10%

COPXON 2.2%Share of the two combined market caps97.8% SPYON

Performance

COPXONSPYON

7 days-4.84%-1.77%SPYON
30 days-23.92%-1.20%SPYON
90 days-5.00%——

Correlation

0.38over 45 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3190d: 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	SPYON
Max drawdown (400d)	-29.6%	-2.5%
Risk-adjusted return (90d)	-0.10	-0.12

Relative strength over 90 days: SPYON outperformed COPXON by 23.1% — measured on the COPXON/SPYON ratio, so it holds regardless of market direction.

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