Invesco QQQ • Robinhood Token vs SP500 xStock

SP500 xStock (SPYX) is 12.1× the size of Invesco QQQ • Robinhood Token (QQQ) by market capitalisation. Over the past 30 days, SPYX is ahead by 4.9 percentage points (QQQ -3.8% against SPYX +1.0%). Their daily returns move closely together (correlation 0.70 across 33 shared trading days). QQQ has been the more volatile of the two, at 24% annualised against SPYX's 11%.

Correlation: 0.70
Size ratio: 1 : 12.1
Ahead over 30 days: SPYX

Invesco QQQ • Robinhood TokenQQQ

$675.8900

24h: -1.19%
Market cap: $5.99M
Volume 24h: $4.54M
Volatility (ann.): 24%

SP500 xStockSPYX

$772.4600

24h: +1.99%
Market cap: $72.22M
Volume 24h: $9.41M
Volatility (ann.): 11%

QQQ 7.7%Share of the two combined market caps92.3% SPYX

Performance

QQQSPYX

7 days-1.76%-0.05%SPYX
30 days-3.83%+1.05%SPYX

Correlation

0.70over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.7090d: 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	QQQ	SPYX
Max drawdown (400d)	-8.2%	-2.7%
Risk-adjusted return (90d)	-0.15	0.01

Relative strength over 90 days: SPYX outperformed QQQ by 3.2% — measured on the QQQ/SPYX ratio, so it holds regardless of market direction.

Invesco QQQ • Robinhood Token →SP500 xStock →