State Street SPDR S&P 500 ETF Trust (Dinari Tokenized ETF) vs Tether Gold

Tether Gold (XAUT) is 10379.2× the size of State Street SPDR S&P 500 ETF Trust (Dinari Tokenized ETF) (SPY) by market capitalisation. Their daily returns move loosely together (correlation 0.53 across 30 shared trading days). XAUT has been the more volatile of the two, at 24% annualised against SPY's 10%.

Correlation: 0.53
Size ratio: 1 : 10379.2

State Street SPDR S&P 500 ETF Trust (Dinari Tokenized ETF)SPY

$734.5300

24h: -4.19%
Market cap: $316,018
Volume 24h: $1,248
Volatility (ann.): 10%

Tether GoldXAUT

$4,062.5

24h: -1.24%
Market cap: $3.28B
Volume 24h: $326.98M
Volatility (ann.): 24%

SPY 0.0%Share of the two combined market caps100.0% XAUT

Performance

SPYXAUT

7 days-0.20%+1.67%XAUT
30 days-0.38%-2.25%SPY
90 days—-5.95%—

Correlation

0.53over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5390d: 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	XAUT
Max drawdown (400d)	-2.4%	-19.4%
Risk-adjusted return (90d)	-0.04	-0.27

Relative strength over 90 days: SPY outperformed XAUT by 7.6% — measured on the SPY/XAUT ratio, so it holds regardless of market direction.

State Street SPDR S&P 500 ETF Trust (Dinari Tokenized ETF) →Tether Gold →