SP500 xStock vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

SP500 xStock (SPYX) is 1.2× the size of iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) by market capitalisation. Over the past 30 days, IVVON is ahead by 10.9 percentage points (SPYX -1.1% against IVVON +9.8%). Their daily returns move barely together (correlation 0.05 across 55 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against SPYX's 11%.

Correlation: 0.05
Size ratio: 1.2×
Ahead over 30 days: IVVON

SP500 xStockSPYX

$773.2300

24h: +1.78%
Market cap: $72.29M
Volume 24h: $9.69M
Volatility (ann.): 11%

iShares Core S&P 500 ETF (Ondo Tokenized ETF)IVVON

$778.2700

24h: +1.24%
Market cap: $60.60M
Volume 24h: $820
Volatility (ann.): 71%

SPYX 54.4%Share of the two combined market caps45.6% IVVON

Performance

SPYXIVVON

7 days-1.60%-1.45%IVVON
30 days-1.10%+9.76%IVVON

Correlation

0.05over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0190d: 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	SPYX	IVVON
Max drawdown (400d)	-2.7%	-15.7%
Risk-adjusted return (90d)	-0.14	-0.02

Relative strength over 90 days: IVVON outperformed SPYX by 0.4% — measured on the SPYX/IVVON ratio, so it holds regardless of market direction.

SP500 xStock →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →