iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 3.3× 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 -0.02 across 35 shared trading days). Both have run at a similar volatility, around 10% annualised.

Correlation: -0.02
Size ratio: 1 : 3.3

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%

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

$773.9500

24h: +1.83%
Market cap: $47.46M
Volume 24h: $1.30M
Volatility (ann.): 10%

AGGON 23.1%Share of the two combined market caps76.9% SPYON

Performance

AGGONSPYON

7 days-1.46%-1.77%AGGON
30 days-2.26%-1.20%SPYON
90 days-2.47%——
1 year-3.10%——

Correlation

-0.02over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0190d: 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	SPYON
Max drawdown (400d)	-6.4%	-2.5%
Risk-adjusted return (90d)	-0.21	-0.12

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

iShares Core US Aggregate Bond ETF (Ondo Tokenized ETF) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →