VanEck Semiconductor ETF (bStocks Tokenized Stock) vs SP500 xStock

SP500 xStock (SPYX) is 52.2× the size of VanEck Semiconductor ETF (bStocks Tokenized Stock) (SMHB) by market capitalisation. Their daily returns move loosely together (correlation 0.49 across 55 shared trading days). SMHB has been the more volatile of the two, at 38% annualised against SPYX's 11%.

Correlation: 0.49
Size ratio: 1 : 52.2

VanEck Semiconductor ETF (bStocks Tokenized Stock)SMHB

$508.8600

24h: +0.07%
Market cap: $1.38M
Volume 24h: $716,601
Volatility (ann.): 38%

SP500 xStockSPYX

$771.4000

24h: +1.52%
Market cap: $72.16M
Volume 24h: $9.82M
Volatility (ann.): 11%

SMHB 1.9%Share of the two combined market caps98.1% SPYX

Performance

SMHBSPYX

7 days-6.56%-1.60%SPYX
30 days-17.63%-1.10%SPYX
90 days-8.73%——

Correlation

0.49over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5490d: 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	SMHB	SPYX
Max drawdown (400d)	-19.1%	-2.7%
Risk-adjusted return (90d)	-0.26	-0.14

Relative strength over 90 days: SPYX outperformed SMHB by 6.0% — measured on the SMHB/SPYX ratio, so it holds regardless of market direction.

VanEck Semiconductor ETF (bStocks Tokenized Stock) →SP500 xStock →