iShares Silver Trust (Ondo Tokenized Stock) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 3.2× the size of iShares Silver Trust (Ondo Tokenized Stock) (SLVON) by market capitalisation. Over the past 30 days, IVVON is ahead by 34.0 percentage points (SLVON -24.2% against IVVON +9.8%). Their daily returns move barely together (correlation 0.01 across 37 shared trading days). Both have run at a similar volatility, around 66% annualised.

Correlation: 0.01
Size ratio: 1 : 3.2
Ahead over 30 days: IVVON

iShares Silver Trust (Ondo Tokenized Stock)SLVON

$44.9400

24h: -1.21%
Market cap: $18.80M
Volume 24h: $1.94M
Volatility (ann.): 61%

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

$773.7300

24h: +1.19%
Market cap: $60.24M
Volume 24h: $1,666
Volatility (ann.): 71%

SLVON 23.8%Share of the two combined market caps76.2% IVVON

Performance

SLVONIVVON

7 days-7.55%-1.45%IVVON
30 days-24.24%+9.76%IVVON

Correlation

0.01over 37 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	SLVON	IVVON
Max drawdown (400d)	-29.1%	-15.7%
Risk-adjusted return (90d)	-0.46	-0.02

Relative strength over 90 days: IVVON outperformed SLVON by 27.1% — measured on the SLVON/IVVON ratio, so it holds regardless of market direction.

iShares Silver Trust (Ondo Tokenized Stock) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →