ProShares UltraPro Short QQQ Tokenized Stock (Reality) vs Tether Gold

Tether Gold (XAUT) is 62094.9× the size of ProShares UltraPro Short QQQ Tokenized Stock (Reality) (RSQQQ) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.33 across 25 shared trading days). RSQQQ has been the more volatile of the two, at 50% annualised against XAUT's 24%.

Correlation: -0.33
Size ratio: 1 : 62094.9

ProShares UltraPro Short QQQ Tokenized Stock (Reality)RSQQQ

$42.5000

24h: -4.71%
Market cap: $53,371
Volume 24h: $204,369
Volatility (ann.): 50%

Tether GoldXAUT

$4,098.84

24h: +3.15%
Market cap: $3.31B
Volume 24h: $329.79M
Volatility (ann.): 24%

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

Performance

RSQQQXAUT

7 days+0.60%+0.05%RSQQQ
30 days-17.83%-2.08%XAUT
90 days—-4.40%—

Correlation

-0.33over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3390d: 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	RSQQQ	XAUT
Max drawdown (400d)	-21.6%	-19.4%
Risk-adjusted return (90d)	-0.36	-0.20

Relative strength over 90 days: XAUT outperformed RSQQQ by 15.9% — measured on the RSQQQ/XAUT ratio, so it holds regardless of market direction.

ProShares UltraPro Short QQQ Tokenized Stock (Reality) →Tether Gold →