Nasdaq xStock vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

Nasdaq xStock (QQQX) is 1.1× the size of iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) by market capitalisation. Over the past 30 days, IVVON is ahead by 11.8 percentage points (QQQX -2.4% against IVVON +9.4%). Their daily returns move loosely together (correlation 0.44 across 50 shared trading days). IVVON has been the more volatile of the two, at 70% annualised against QQQX's 20%.

Correlation: 0.44
Size ratio: 1.1×
Ahead over 30 days: IVVON

Nasdaq xStockQQQX

$692.4700

24h: +1.27%
Market cap: $65.86M
Volume 24h: $3.52M
Volatility (ann.): 20%

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

$779.4200

24h: +1.90%
Market cap: $60.69M
Volume 24h: $832
Volatility (ann.): 70%

QQQX 52.0%Share of the two combined market caps48.0% IVVON

Performance

QQQXIVVON

7 days-3.67%+0.11%IVVON
30 days-2.36%+9.43%IVVON

Correlation

0.44over 50 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4590d: 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	QQQX	IVVON
Max drawdown (400d)	-8.4%	-15.7%
Risk-adjusted return (90d)	-0.14	0.01

Relative strength over 90 days: IVVON outperformed QQQX by 3.0% — measured on the QQQX/IVVON ratio, so it holds regardless of market direction.

Nasdaq xStock →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →