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

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 63.4× the size of iShares Semiconductor ETF (Ondo Tokenized) (SOXXON) by market capitalisation. Their daily returns move loosely together (correlation 0.44 across 35 shared trading days). SOXXON has been the more volatile of the two, at 57% annualised against SPYON's 10%.

Correlation: 0.44
Size ratio: 1 : 63.4

iShares Semiconductor ETF (Ondo Tokenized)SOXXON

$455.7100

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

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

$773.8200

24h: +1.58%
Market cap: $47.46M
Volume 24h: $1.62M
Volatility (ann.): 10%

SOXXON 1.6%Share of the two combined market caps98.4% SPYON

Performance

SOXXONSPYON

7 days-1.96%-1.77%SPYON
30 days+8.80%-1.20%SOXXON
90 days-13.90%——

Correlation

0.44over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4390d: 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	SPYON
Max drawdown (400d)	-28.8%	-2.5%
Risk-adjusted return (90d)	-0.27	-0.12

Relative strength over 90 days: SOXXON outperformed SPYON by 5.9% — measured on the SOXXON/SPYON ratio, so it holds regardless of market direction.

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