SPDR S&P 500 ETF Trust • Robinhood Token vs SP500 xStock

SP500 xStock (SPYX) is 3.5× the size of SPDR S&P 500 ETF Trust • Robinhood Token (SPY) by market capitalisation. Over the past 30 days, SPYX is ahead by 1.7 percentage points (SPY -2.8% against SPYX -1.1%). Their daily returns move very closely together (correlation 0.88 across 34 shared trading days). SPY has been the more volatile of the two, at 13% annualised against SPYX's 11%.

Correlation: 0.88
Size ratio: 1 : 3.5
Ahead over 30 days: SPYX

SPDR S&P 500 ETF Trust • Robinhood TokenSPY

$750.6200

24h: -0.39%
Market cap: $20.63M
Volume 24h: $36.42M
Volatility (ann.): 13%

SP500 xStockSPYX

$766.1600

24h: +1.27%
Market cap: $71.48M
Volume 24h: $8.70M
Volatility (ann.): 11%

SPY 22.4%Share of the two combined market caps77.6% SPYX

Performance

SPYSPYX

7 days-2.21%-1.60%SPYX
30 days-2.81%-1.10%SPYX

Correlation

0.88over 34 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.9090d: 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	SPY	SPYX
Max drawdown (400d)	-3.5%	-2.7%
Risk-adjusted return (90d)	-0.17	-0.14

Relative strength over 90 days: SPYX outperformed SPY by 0.7% — measured on the SPY/SPYX ratio, so it holds regardless of market direction.

SPDR S&P 500 ETF Trust • Robinhood Token →SP500 xStock →