iShares 0-3 Month Treasury Bond ETF • Robinhood Token vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 28.6× the size of iShares 0-3 Month Treasury Bond ETF • Robinhood Token (SGOV) by market capitalisation. Over the past 30 days, SGOV is ahead by 1.7 percentage points (SGOV +0.5% against SPYON -1.2%). Their daily returns move barely in opposite directions (correlation -0.00 across 32 shared trading days). SPYON has been the more volatile of the two, at 10% annualised against SGOV's 1%.

Correlation: -0.00
Size ratio: 1 : 28.6
Ahead over 30 days: SGOV

iShares 0-3 Month Treasury Bond ETF • Robinhood TokenSGOV

$101.3900

24h: -0.30%
Market cap: $1.64M
Volume 24h: —
Volatility (ann.): 1%

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

$766.6300

24h: +0.93%
Market cap: $47.03M
Volume 24h: $1.56M
Volatility (ann.): 10%

SGOV 3.4%Share of the two combined market caps96.6% SPYON

Performance

SGOVSPYON

7 days+0.27%-1.77%SGOV
30 days+0.47%-1.20%SGOV

Correlation

-0.00over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0290d: 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	SGOV	SPYON
Max drawdown (400d)	-0.1%	-2.5%
Risk-adjusted return (90d)	0.70	-0.12

Relative strength over 90 days: SGOV outperformed SPYON by 2.8% — measured on the SGOV/SPYON ratio, so it holds regardless of market direction.

iShares 0-3 Month Treasury Bond ETF • Robinhood Token →SPDR S&P 500 ETF (Ondo Tokenized ETF) →