US Copper Index Fund (Ondo Tokenized) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 425.4× the size of US Copper Index Fund (Ondo Tokenized) (CPERON) by market capitalisation. Over the past 30 days, CPERON is ahead by 2.1 percentage points (CPERON +3.0% against SPYON +0.8%). Their daily returns move barely in opposite directions (correlation -0.35 across 22 shared trading days). CPERON has been the more volatile of the two, at 249% annualised against SPYON's 10%.

Correlation: -0.35
Size ratio: 1 : 425.4
Ahead over 30 days: CPERON

US Copper Index Fund (Ondo Tokenized)CPERON

$39.7400

24h: —
Market cap: $111,430
Volume 24h: $66
Volatility (ann.): 249%

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

$772.9100

24h: +0.58%
Market cap: $47.41M
Volume 24h: $1.33M
Volatility (ann.): 10%

CPERON 0.2%Share of the two combined market caps99.8% SPYON

Performance

CPERONSPYON

7 days+10.70%-0.31%CPERON
30 days+2.96%+0.82%CPERON

Correlation

-0.35over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	CPERON	SPYON
Max drawdown (400d)	-44.9%	-2.5%
Risk-adjusted return (90d)	0.01	0.02

Relative strength over 90 days: SPYON outperformed CPERON by 0.9% — measured on the CPERON/SPYON ratio, so it holds regardless of market direction.

US Copper Index Fund (Ondo Tokenized) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →