iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF) vs SP500 xStock

SP500 xStock (SPYX) is 5.0× the size of iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF) (AGGON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.09 across 35 shared trading days). Both have run at a similar volatility, around 10% annualised.

Correlation: -0.09
Size ratio: 1 : 5.0

iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF)AGGON

$96.2900

24h: -0.03%
Market cap: $14.26M
Volume 24h: $120,562
Volatility (ann.): 9%

SP500 xStockSPYX

$771.4100

24h: +1.77%
Market cap: $71.97M
Volume 24h: $8.69M
Volatility (ann.): 11%

AGGON 16.5%Share of the two combined market caps83.5% SPYX

Performance

AGGONSPYX

7 days-1.46%-1.60%AGGON
30 days-2.26%-1.10%SPYX
90 days-2.47%——
1 year-3.10%——

Correlation

-0.09over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0990d: 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	AGGON	SPYX
Max drawdown (400d)	-6.4%	-2.7%
Risk-adjusted return (90d)	-0.21	-0.14

Relative strength over 90 days: SPYX outperformed AGGON by 1.9% — measured on the AGGON/SPYX ratio, so it holds regardless of market direction.

iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF) →SP500 xStock →