iShares Silver Trust • Robinhood Token vs SP500 xStock

SP500 xStock (SPYX) is 62.7× the size of iShares Silver Trust • Robinhood Token (SLV) by market capitalisation. Over the past 30 days, SPYX is ahead by 25.0 percentage points (SLV -26.1% against SPYX -1.1%). Their daily returns move barely together (correlation 0.16 across 30 shared trading days). SLV has been the more volatile of the two, at 56% annualised against SPYX's 11%.

Correlation: 0.16
Size ratio: 1 : 62.7
Ahead over 30 days: SPYX

iShares Silver Trust • Robinhood TokenSLV

$44.9300

24h: -1.05%
Market cap: $1.14M
Volume 24h: $204,316
Volatility (ann.): 56%

SP500 xStockSPYX

$767.6400

24h: +1.37%
Market cap: $71.62M
Volume 24h: $8.36M
Volatility (ann.): 11%

SLV 1.6%Share of the two combined market caps98.4% SPYX

Performance

SLVSPYX

7 days-20.16%-1.60%SPYX
30 days-26.12%-1.10%SPYX

Correlation

0.16over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1690d: 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	SLV	SPYX
Max drawdown (400d)	-27.3%	-2.7%
Risk-adjusted return (90d)	-0.47	-0.14

Relative strength over 90 days: SPYX outperformed SLV by 25.1% — measured on the SLV/SPYX ratio, so it holds regardless of market direction.

iShares Silver Trust • Robinhood Token →SP500 xStock →