ProShares UltraPro Short S&P 500 Tokenized Stock (Reality) vs Tether Gold

Tether Gold (XAUT) is 2880019.7× the size of ProShares UltraPro Short S&P 500 Tokenized Stock (Reality) (RSPXU) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.30 across 26 shared trading days). RSPXU has been the more volatile of the two, at 29% annualised against XAUT's 24%.

Correlation: -0.30
Size ratio: 1 : 2880019.7

ProShares UltraPro Short S&P 500 Tokenized Stock (Reality)RSPXU

$34.5900

24h: —
Market cap: $1,154
Volume 24h: $35
Volatility (ann.): 29%

Tether GoldXAUT

$4,111.75

24h: +4.44%
Market cap: $3.32B
Volume 24h: $295.08M
Volatility (ann.): 24%

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

Performance

RSPXUXAUT

7 days+1.13%+0.05%RSPXU
30 days+1.22%-2.08%RSPXU
90 days—-4.40%—

Correlation

-0.30over 26 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	RSPXU	XAUT
Max drawdown (400d)	-6.1%	-19.4%
Risk-adjusted return (90d)	0.04	-0.20

Relative strength over 90 days: RSPXU outperformed XAUT by 9.5% — measured on the RSPXU/XAUT ratio, so it holds regardless of market direction.

ProShares UltraPro Short S&P 500 Tokenized Stock (Reality) →Tether Gold →