Nasdaq xStock vs SP500 xStock

SP500 xStock (SPYX) is 1.1× the size of Nasdaq xStock (QQQX) by market capitalisation. Over the past 30 days, SPYX is ahead by 3.4 percentage points (QQQX -2.4% against SPYX +1.0%). Their daily returns move closely together (correlation 0.74 across 50 shared trading days). QQQX has been the more volatile of the two, at 20% annualised against SPYX's 11%.

Correlation: 0.74
Size ratio: 1 : 1.1
Ahead over 30 days: SPYX

Nasdaq xStockQQQX

$692.4700

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

SP500 xStockSPYX

$772.4600

24h: +1.99%
Market cap: $72.22M
Volume 24h: $9.41M
Volatility (ann.): 11%

QQQX 47.7%Share of the two combined market caps52.3% SPYX

Performance

QQQXSPYX

7 days-3.67%-0.05%SPYX
30 days-2.36%+1.05%SPYX

Correlation

0.74over 50 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.7390d: 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	SPYX
Max drawdown (400d)	-8.4%	-2.7%
Risk-adjusted return (90d)	-0.14	0.01

Relative strength over 90 days: SPYX outperformed QQQX by 3.1% — measured on the QQQX/SPYX ratio, so it holds regardless of market direction.

Nasdaq xStock →SP500 xStock →