Invesco QQQ Trust, Series 1 Tokenized Stock (Reality) vs Tether Gold

Tether Gold (XAUT) is 21132.4× the size of Invesco QQQ Trust, Series 1 Tokenized Stock (Reality) (RQQQI) by market capitalisation. Their daily returns move barely together (correlation 0.30 across 25 shared trading days). XAUT has been the more volatile of the two, at 24% annualised against RQQQI's 16%.

Correlation: 0.30
Size ratio: 1 : 21132.4

Invesco QQQ Trust, Series 1 Tokenized Stock (Reality)RQQQI

$51.4800

24h: +1.15%
Market cap: $157,167
Volume 24h: $41,381
Volatility (ann.): 16%

Tether GoldXAUT

$4,107.73

24h: +2.10%
Market cap: $3.32B
Volume 24h: $328.71M
Volatility (ann.): 24%

RQQQI 0.0%Share of the two combined market caps100.0% XAUT

Performance

RQQQIXAUT

7 days-3.28%+0.05%XAUT
30 days+1.30%-2.08%RQQQI
90 days—-4.40%—

Correlation

0.30over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3090d: 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	RQQQI	XAUT
Max drawdown (400d)	-3.8%	-19.4%
Risk-adjusted return (90d)	0.08	-0.20

Relative strength over 90 days: RQQQI outperformed XAUT by 4.5% — measured on the RQQQI/XAUT ratio, so it holds regardless of market direction.

Invesco QQQ Trust, Series 1 Tokenized Stock (Reality) →Tether Gold →