ProShares Ultra VIX Short-Term Futures ETF Tokenized Stock (Reality) vs Tether Gold

Tether Gold (XAUT) is 9566519.4× the size of ProShares Ultra VIX Short-Term Futures ETF Tokenized Stock (Reality) (RUVXY) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.18 across 25 shared trading days). RUVXY has been the more volatile of the two, at 68% annualised against XAUT's 24%.

Correlation: -0.18
Size ratio: 1 : 9566519.4

ProShares Ultra VIX Short-Term Futures ETF Tokenized Stock (Reality)RUVXY

$19.7700

24h: +1.19%
Market cap: $342
Volume 24h: $868
Volatility (ann.): 68%

Tether GoldXAUT

$4,045.36

24h: +3.05%
Market cap: $3.27B
Volume 24h: $268.14M
Volatility (ann.): 24%

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

Performance

RUVXYXAUT

7 days+4.09%-3.11%RUVXY
30 days+4.09%-5.07%RUVXY
90 days—-7.64%—

Correlation

-0.18over 25 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	RUVXY	XAUT
Max drawdown (400d)	-9.7%	-19.4%
Risk-adjusted return (90d)	0.06	-0.36

Relative strength over 90 days: RUVXY outperformed XAUT by 12.7% — measured on the RUVXY/XAUT ratio, so it holds regardless of market direction.

ProShares Ultra VIX Short-Term Futures ETF Tokenized Stock (Reality) →Tether Gold →