iShares Silver Trust • Robinhood Token vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 41.2× the size of iShares Silver Trust • Robinhood Token (SLV) by market capitalisation. Over the past 30 days, SPYON is ahead by 24.9 percentage points (SLV -26.1% against SPYON -1.2%). Their daily returns move barely together (correlation 0.21 across 32 shared trading days). SLV has been the more volatile of the two, at 56% annualised against SPYON's 10%.

Correlation: 0.21
Size ratio: 1 : 41.2
Ahead over 30 days: SPYON

iShares Silver Trust • Robinhood TokenSLV

$44.9300

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

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

$768.5900

24h: +1.24%
Market cap: $47.12M
Volume 24h: $1.55M
Volatility (ann.): 10%

SLV 2.4%Share of the two combined market caps97.6% SPYON

Performance

SLVSPYON

7 days-20.16%-1.77%SPYON
30 days-26.12%-1.20%SPYON

Correlation

0.21over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1890d: 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	SPYON
Max drawdown (400d)	-27.3%	-2.5%
Risk-adjusted return (90d)	-0.47	-0.12

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

iShares Silver Trust • Robinhood Token →SPDR S&P 500 ETF (Ondo Tokenized ETF) →