Invesco QQQ Trust (bStocks Tokenized Stock) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 45.3× the size of Invesco QQQ Trust (bStocks Tokenized Stock) (QQQB) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 55 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against QQQB's 20%.

Correlation: 0.08
Size ratio: 1 : 45.3

Invesco QQQ Trust (bStocks Tokenized Stock)QQQB

$692.5600

24h: -0.24%
Market cap: $1.33M
Volume 24h: $2.61M
Volatility (ann.): 20%

iShares Core S&P 500 ETF (Ondo Tokenized ETF)IVVON

$773.7300

24h: +1.19%
Market cap: $60.24M
Volume 24h: $1,666
Volatility (ann.): 71%

QQQB 2.2%Share of the two combined market caps97.8% IVVON

Performance

QQQBIVVON

7 days-5.05%-1.45%IVVON
30 days-8.68%+9.76%IVVON
90 days-4.23%——

Correlation

0.08over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0890d: 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	QQQB	IVVON
Max drawdown (400d)	-10.1%	-15.7%
Risk-adjusted return (90d)	-0.25	-0.02

Relative strength over 90 days: IVVON outperformed QQQB by 3.4% — measured on the QQQB/IVVON ratio, so it holds regardless of market direction.

Invesco QQQ Trust (bStocks Tokenized Stock) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →