iShares Silver Trust (Ondo Tokenized Stock) vs SP500 xStock

SP500 xStock (SPYX) is 3.8× the size of iShares Silver Trust (Ondo Tokenized Stock) (SLVON) by market capitalisation. Over the past 30 days, SPYX is ahead by 23.1 percentage points (SLVON -24.2% against SPYX -1.1%). Their daily returns move loosely together (correlation 0.48 across 37 shared trading days). SLVON has been the more volatile of the two, at 61% annualised against SPYX's 11%.

Correlation: 0.48
Size ratio: 1 : 3.8
Ahead over 30 days: SPYX

iShares Silver Trust (Ondo Tokenized Stock)SLVON

$44.9400

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

SP500 xStockSPYX

$767.4700

24h: +1.53%
Market cap: $71.55M
Volume 24h: $7.57M
Volatility (ann.): 11%

SLVON 20.8%Share of the two combined market caps79.2% SPYX

Performance

SLVONSPYX

7 days-7.55%-1.60%SPYX
30 days-24.24%-1.10%SPYX

Correlation

0.48over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4790d: 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	SPYX
Max drawdown (400d)	-29.1%	-2.7%
Risk-adjusted return (90d)	-0.46	-0.14

Relative strength over 90 days: SPYX outperformed SLVON by 26.9% — measured on the SLVON/SPYX ratio, so it holds regardless of market direction.

iShares Silver Trust (Ondo Tokenized Stock) →SP500 xStock →