iShares Russell 2000 ETF (Ondo Tokenized ETF) vs SP500 xStock

SP500 xStock (SPYX) is 21.8× the size of iShares Russell 2000 ETF (Ondo Tokenized ETF) (IWMON) by market capitalisation. Over the past 30 days, SPYX is ahead by 4.0 percentage points (IWMON -5.1% against SPYX -1.1%). Their daily returns move barely together (correlation 0.11 across 24 shared trading days). IWMON has been the more volatile of the two, at 68% annualised against SPYX's 11%.

Correlation: 0.11
Size ratio: 1 : 21.8
Ahead over 30 days: SPYX

iShares Russell 2000 ETF (Ondo Tokenized ETF)IWMON

$280.9900

24h: -0.59%
Market cap: $3.30M
Volume 24h: $28
Volatility (ann.): 68%

SP500 xStockSPYX

$769.6200

24h: +1.31%
Market cap: $71.95M
Volume 24h: $9.71M
Volatility (ann.): 11%

IWMON 4.4%Share of the two combined market caps95.6% SPYX

Performance

IWMONSPYX

7 days-2.16%-1.60%SPYX
30 days-5.06%-1.10%SPYX

Correlation

0.11over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	IWMON	SPYX
Max drawdown (400d)	-14.5%	-2.7%
Risk-adjusted return (90d)	-0.07	-0.14

Relative strength over 90 days: SPYX outperformed IWMON by 4.4% — measured on the IWMON/SPYX ratio, so it holds regardless of market direction.

iShares Russell 2000 ETF (Ondo Tokenized ETF) →SP500 xStock →