SPDR Gold Shares • Robinhood Token vs SP500 xStock

SP500 xStock (SPYX) is 9.9× the size of SPDR Gold Shares • Robinhood Token (GLD) by market capitalisation. Over the past 30 days, SPYX is ahead by 11.6 percentage points (GLD -12.7% against SPYX -1.1%). Their daily returns move barely together (correlation 0.20 across 33 shared trading days). GLD has been the more volatile of the two, at 230% annualised against SPYX's 11%.

Correlation: 0.20
Size ratio: 1 : 9.9
Ahead over 30 days: SPYX

SPDR Gold Shares • Robinhood TokenGLD

$361.7600

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

SP500 xStockSPYX

$762.3900

24h: +0.94%
Market cap: $70.94M
Volume 24h: $7.86M
Volatility (ann.): 11%

GLD 9.1%Share of the two combined market caps90.9% SPYX

Performance

GLDSPYX

7 days-2.49%-1.60%SPYX
30 days-12.70%-1.10%SPYX

Correlation

0.20over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2590d: 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	SPYX
Max drawdown (400d)	-79.2%	-2.7%
Risk-adjusted return (90d)	-0.34	-0.14

Relative strength over 90 days: SPYX outperformed GLD by 78.5% — measured on the GLD/SPYX ratio, so it holds regardless of market direction.

SPDR Gold Shares • Robinhood Token →SP500 xStock →