iShares Semiconductor ETF (Ondo Tokenized) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 81.0× the size of iShares Semiconductor ETF (Ondo Tokenized) (SOXXON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.09 across 35 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against SOXXON's 57%.

Correlation: -0.09
Size ratio: 1 : 81.0

iShares Semiconductor ETF (Ondo Tokenized)SOXXON

$455.7100

24h: -0.98%
Market cap: $748,555
Volume 24h: $161,240
Volatility (ann.): 57%

iShares Core S&P 500 ETF (Ondo Tokenized ETF)IVVON

$778.9700

24h: +1.74%
Market cap: $60.65M
Volume 24h: $1,312
Volatility (ann.): 71%

SOXXON 1.2%Share of the two combined market caps98.8% IVVON

Performance

SOXXONIVVON

7 days-1.96%-1.45%IVVON
30 days+8.80%+9.76%IVVON
90 days-13.90%——

Correlation

-0.09over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1090d: 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	SOXXON	IVVON
Max drawdown (400d)	-28.8%	-15.7%
Risk-adjusted return (90d)	-0.27	-0.02

Relative strength over 90 days: SOXXON outperformed IVVON by 5.4% — measured on the SOXXON/IVVON ratio, so it holds regardless of market direction.

iShares Semiconductor ETF (Ondo Tokenized) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →