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

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 4.2× the size of iShares TIPS Bond ETF (Ondo Tokenized ETF) (TIPON) by market capitalisation. Over the past 30 days, SPYON is ahead by 1.6 percentage points (TIPON -2.8% against SPYON -1.2%). Their daily returns move barely in opposite directions (correlation -0.05 across 24 shared trading days). TIPON has been the more volatile of the two, at 58% annualised against SPYON's 10%.

Correlation: -0.05
Size ratio: 1 : 4.2
Ahead over 30 days: SPYON

iShares TIPS Bond ETF (Ondo Tokenized ETF)TIPON

$110.6200

24h: -0.32%
Market cap: $11.10M
Volume 24h: $5
Volatility (ann.): 58%

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

$763.4500

24h: +0.56%
Market cap: $46.83M
Volume 24h: $1.55M
Volatility (ann.): 10%

TIPON 19.2%Share of the two combined market caps80.8% SPYON

Performance

TIPONSPYON

7 days-0.82%-1.77%TIPON
30 days-2.82%-1.20%SPYON

Correlation

-0.05over 24 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	TIPON	SPYON
Max drawdown (400d)	-12.6%	-2.5%
Risk-adjusted return (90d)	-0.05	-0.12

Relative strength over 90 days: SPYON outperformed TIPON by 2.4% — measured on the TIPON/SPYON ratio, so it holds regardless of market direction.

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