Invesco QQQ Trust (bStocks Tokenized Stock) vs Tether Gold

Tether Gold (XAUT) is 2451.8× the size of Invesco QQQ Trust (bStocks Tokenized Stock) (QQQB) by market capitalisation. Over the past 90 days, QQQB is ahead by 3.4 percentage points (QQQB -4.2% against XAUT -7.6%). Their daily returns move barely together (correlation 0.31 across 127 shared trading days). XAUT has been the more volatile of the two, at 24% annualised against QQQB's 20%.

Correlation: 0.31
Size ratio: 1 : 2451.8
Ahead over 90 days: QQQB

Invesco QQQ Trust (bStocks Tokenized Stock)QQQB

$692.5600

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

Tether GoldXAUT

$4,034.14

24h: +3.27%
Market cap: $3.26B
Volume 24h: $262.20M
Volatility (ann.): 24%

QQQB 0.0%Share of the two combined market caps100.0% XAUT

Performance

QQQBXAUT

7 days-5.05%-3.11%XAUT
30 days-8.68%-5.07%XAUT
90 days-4.23%-7.64%QQQB

Correlation

0.31over 127 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4390d: 0.371y: 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	XAUT
Max drawdown (400d)	-10.1%	-19.4%
Risk-adjusted return (90d)	-0.25	-0.36

Relative strength over 90 days: QQQB outperformed XAUT by 3.7% — measured on the QQQB/XAUT ratio, so it holds regardless of market direction.

Invesco QQQ Trust (bStocks Tokenized Stock) →Tether Gold →