GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 42.5× the size of GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock) (MVLLB) by market capitalisation. Their daily returns move loosely together (correlation 0.42 across 53 shared trading days). MVLLB has been the more volatile of the two, at 184% annualised against SPYON's 10%.

Correlation: 0.42
Size ratio: 1 : 42.5

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%

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

$767.5800

24h: +1.15%
Market cap: $47.08M
Volume 24h: $1.56M
Volatility (ann.): 10%

MVLLB 2.3%Share of the two combined market caps97.7% SPYON

Performance

MVLLBSPYON

7 days-53.39%-1.77%SPYON
30 days-65.13%-1.20%SPYON
90 days-45.82%——

Correlation

0.42over 53 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.6990d: 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	SPYON
Max drawdown (400d)	-67.8%	-2.5%
Risk-adjusted return (90d)	-0.28	-0.12

Relative strength over 90 days: SPYON outperformed MVLLB by 54.9% — measured on the MVLLB/SPYON ratio, so it holds regardless of market direction.

GraniteShares 2X Long MRVL ETF (bStocks Tokenized Stock) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →