Roundhill Memory ETF (bStocks Tokenized Stock) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 2.3× the size of Roundhill Memory ETF (bStocks Tokenized Stock) (DRAMB) by market capitalisation. Their daily returns move loosely together (correlation 0.40 across 53 shared trading days). DRAMB has been the more volatile of the two, at 86% annualised against SPYON's 10%.

Correlation: 0.40
Size ratio: 1 : 2.3

Roundhill Memory ETF (bStocks Tokenized Stock)DRAMB

$48.2100

24h: -1.23%
Market cap: $20.28M
Volume 24h: $655,475
Volatility (ann.): 86%

SPDR S&P 500 ETF (Ondo Tokenized ETF)SPYON

$767.6300

24h: +1.13%
Market cap: $47.08M
Volume 24h: $1.56M
Volatility (ann.): 10%

DRAMB 30.1%Share of the two combined market caps69.9% SPYON

Performance

DRAMBSPYON

7 days-5.55%-1.77%SPYON
30 days-21.93%-1.20%SPYON
90 days-7.44%——

Correlation

0.40over 53 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5790d: 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	DRAMB	SPYON
Max drawdown (400d)	-31.3%	-2.5%
Risk-adjusted return (90d)	-0.12	-0.12

Relative strength over 90 days: SPYON outperformed DRAMB by 15.4% — measured on the DRAMB/SPYON ratio, so it holds regardless of market direction.

Roundhill Memory ETF (bStocks Tokenized Stock) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →