SPY (bStocks Tokenized Stock) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 2.5× the size of SPY (bStocks Tokenized Stock) (SPYB) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.00 across 55 shared trading days). IVVON has been the more volatile of the two, at 71% annualised against SPYB's 11%.

Correlation: -0.00
Size ratio: 1 : 2.5

SPY (bStocks Tokenized Stock)SPYB

$767.5000

24h: +1.71%
Market cap: $24.16M
Volume 24h: $6.70M
Volatility (ann.): 11%

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

$776.9100

24h: +1.45%
Market cap: $60.53M
Volume 24h: $1,325
Volatility (ann.): 71%

SPYB 28.5%Share of the two combined market caps71.5% IVVON

Performance

SPYBIVVON

7 days-1.96%-1.45%IVVON
30 days-1.94%+9.76%IVVON
90 days-2.07%——

Correlation

-0.00over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0490d: 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	SPYB	IVVON
Max drawdown (400d)	-3.4%	-15.7%
Risk-adjusted return (90d)	-0.22	-0.02

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

SPY (bStocks Tokenized Stock) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →