SPDR Gold Shares • Robinhood Token vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 8.4× the size of SPDR Gold Shares • Robinhood Token (GLD) by market capitalisation. Over the past 30 days, IVVON is ahead by 22.5 percentage points (GLD -12.7% against IVVON +9.8%). Their daily returns move barely together (correlation 0.02 across 33 shared trading days). GLD has been the more volatile of the two, at 230% annualised against IVVON's 71%.

Correlation: 0.02
Size ratio: 1 : 8.4
Ahead over 30 days: IVVON

SPDR Gold Shares • Robinhood TokenGLD

$361.7600

24h: -0.01%
Market cap: $7.14M
Volume 24h: $2.50M
Volatility (ann.): 230%

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

$768.9300

24h: +0.66%
Market cap: $59.87M
Volume 24h: $1,667
Volatility (ann.): 71%

GLD 10.7%Share of the two combined market caps89.3% IVVON

Performance

GLDIVVON

7 days-2.49%-1.45%IVVON
30 days-12.70%+9.76%IVVON

Correlation

0.02over 33 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	GLD	IVVON
Max drawdown (400d)	-79.2%	-15.7%
Risk-adjusted return (90d)	-0.34	-0.02

Relative strength over 90 days: IVVON outperformed GLD by 78.7% — measured on the GLD/IVVON ratio, so it holds regardless of market direction.

SPDR Gold Shares • Robinhood Token →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →