State Street SPDR Portfolio S&P 500 ETF ST0x vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 177.9× the size of State Street SPDR Portfolio S&P 500 ETF ST0x (WTSPYM) by market capitalisation. Over the past 30 days, SPYON is ahead by 0.3 percentage points (WTSPYM +0.5% against SPYON +0.8%). Their daily returns move barely together (correlation 0.03 across 34 shared trading days). WTSPYM has been the more volatile of the two, at 1511% annualised against SPYON's 10%.

Correlation: 0.03
Size ratio: 1 : 177.9
Ahead over 30 days: SPYON

State Street SPDR Portfolio S&P 500 ETF ST0xWTSPYM

$90.2800

24h: +1.54%
Market cap: $266,498
Volume 24h: $28,216
Volatility (ann.): 1511%

SPDR S&P 500 ETF (Ondo Tokenized ETF)SPYON

$773.0600

24h: +2.27%
Market cap: $47.41M
Volume 24h: $1.31M
Volatility (ann.): 10%

WTSPYM 0.6%Share of the two combined market caps99.4% SPYON

Performance

WTSPYMSPYON

7 days-0.79%-0.31%SPYON
30 days+0.52%+0.82%SPYON

Correlation

0.03over 34 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 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	WTSPYM	SPYON
Max drawdown (400d)	-85.5%	-2.5%
Risk-adjusted return (90d)	0.00	0.02

Relative strength over 90 days: WTSPYM outperformed SPYON by 0.2% — measured on the WTSPYM/SPYON ratio, so it holds regardless of market direction.

State Street SPDR Portfolio S&P 500 ETF ST0x →SPDR S&P 500 ETF (Ondo Tokenized ETF) →