iShares Russell 2000 ETF (Ondo Tokenized ETF) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 14.4× the size of iShares Russell 2000 ETF (Ondo Tokenized ETF) (IWMON) by market capitalisation. Over the past 30 days, SPYON is ahead by 3.9 percentage points (IWMON -5.1% against SPYON -1.2%). Their daily returns move barely together (correlation 0.00 across 25 shared trading days). IWMON has been the more volatile of the two, at 68% annualised against SPYON's 10%.

Correlation: 0.00
Size ratio: 1 : 14.4
Ahead over 30 days: SPYON

iShares Russell 2000 ETF (Ondo Tokenized ETF)IWMON

$280.9900

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

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

$771.0500

24h: +1.28%
Market cap: $47.29M
Volume 24h: $1.56M
Volatility (ann.): 10%

IWMON 6.5%Share of the two combined market caps93.5% SPYON

Performance

IWMONSPYON

7 days-2.16%-1.77%SPYON
30 days-5.06%-1.20%SPYON

Correlation

0.00over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0090d: 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	SPYON
Max drawdown (400d)	-14.5%	-2.5%
Risk-adjusted return (90d)	-0.07	-0.12

Relative strength over 90 days: SPYON outperformed IWMON by 4.7% — measured on the IWMON/SPYON ratio, so it holds regardless of market direction.

iShares Russell 2000 ETF (Ondo Tokenized ETF) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →