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

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 136.7× the size of Global X Uranium ETF (Ondo Tokenized) (URAON) by market capitalisation. Their daily returns move barely together (correlation 0.32 across 35 shared trading days). URAON has been the more volatile of the two, at 48% annualised against SPYON's 10%.

Correlation: 0.32
Size ratio: 1 : 136.7

Global X Uranium ETF (Ondo Tokenized)URAON

$33.0700

24h: +0.47%
Market cap: $345,672
Volume 24h: $158,407
Volatility (ann.): 48%

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

$770.3100

24h: +1.71%
Market cap: $47.24M
Volume 24h: $1.37M
Volatility (ann.): 10%

URAON 0.7%Share of the two combined market caps99.3% SPYON

Performance

URAONSPYON

7 days-6.02%-0.31%SPYON
30 days-11.40%+0.82%SPYON
90 days-6.44%——

Correlation

0.32over 35 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	URAON	SPYON
Max drawdown (400d)	-34.9%	-2.5%
Risk-adjusted return (90d)	-0.14	0.02

Relative strength over 90 days: SPYON outperformed URAON by 12.9% — measured on the URAON/SPYON ratio, so it holds regardless of market direction.

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