Invesco NASDAQ 100 (ST0x Tokenized ETF) vs SP500 xStock

SP500 xStock (SPYX) is 6847.6× the size of Invesco NASDAQ 100 (ST0x Tokenized ETF) (WTQQQM) by market capitalisation. Over the past 30 days, SPYX is ahead by 7.5 percentage points (WTQQQM -6.5% against SPYX +1.0%). Their daily returns move closely together (correlation 0.81 across 21 shared trading days). WTQQQM has been the more volatile of the two, at 22% annualised against SPYX's 11%.

Correlation: 0.81
Size ratio: 1 : 6847.6
Ahead over 30 days: SPYX

Invesco NASDAQ 100 (ST0x Tokenized ETF)WTQQQM

$285.3400

24h: +1.63%
Market cap: $10,569
Volume 24h: $1,872
Volatility (ann.): 22%

SP500 xStockSPYX

$773.4500

24h: +0.88%
Market cap: $72.37M
Volume 24h: $8.28M
Volatility (ann.): 11%

WTQQQM 0.0%Share of the two combined market caps100.0% SPYX

Performance

WTQQQMSPYX

7 days-3.72%-0.05%SPYX
30 days-6.49%+1.05%SPYX

Correlation

0.81over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	WTQQQM	SPYX
Max drawdown (400d)	-10.2%	-2.7%
Risk-adjusted return (90d)	-0.29	0.01

Relative strength over 90 days: SPYX outperformed WTQQQM by 4.6% — measured on the WTQQQM/SPYX ratio, so it holds regardless of market direction.

Invesco NASDAQ 100 (ST0x Tokenized ETF) →SP500 xStock →