GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock) vs SP500 xStock

SP500 xStock (SPYX) is 64.5× the size of GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock) (MVLLB) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 55 shared trading days). MVLLB has been the more volatile of the two, at 184% annualised against SPYX's 11%.

Correlation: 0.36
Size ratio: 1 : 64.5

GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock)MVLLB

$13.9800

24h: -2.18%
Market cap: $1.11M
Volume 24h: $328,478
Volatility (ann.): 184%

SP500 xStockSPYX

$766.4600

24h: +1.35%
Market cap: $71.45M
Volume 24h: $8.24M
Volatility (ann.): 11%

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

Performance

MVLLBSPYX

7 days-53.39%-1.60%SPYX
30 days-65.13%-1.10%SPYX
90 days-45.82%——

Correlation

0.36over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6190d: 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	MVLLB	SPYX
Max drawdown (400d)	-67.8%	-2.7%
Risk-adjusted return (90d)	-0.28	-0.14

Relative strength over 90 days: SPYX outperformed MVLLB by 56.8% — measured on the MVLLB/SPYX ratio, so it holds regardless of market direction.

GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock) →SP500 xStock →