Tradfi
Sectors
Sentiment
Ethereum vs S&P 500 — smart contract platform vs US large-cap equities. Correlation, returns, and diversification.
| Metric | Ethereum | S&P 500 | Δ |
|---|---|---|---|
| Ethereum Market Cap | $283.19B | — | — |
| Ethereum Price | $2.32K | — | — |
| Ethereum 24h Change | -0.55% | — | — |
| Ethereum FDV | $283.19B | — | +0.0% |
| Ethereum ATH | $4.95K | — | — |
| S&P 500 Reference Market Cap | — | $50.00T | — |
| Ethereum as % of S&P 500 | 0.6% | 100.0% | — |
| Flip Multiple (Ethereum → S&P 500) | 1.0x | 176.6x | — |
Crypto data live from Sharpe's tracker cache; TradFi values are reference benchmarks updated quarterly.
Ethereum and the S&P 500 share moderate correlation (0.4-0.65 rolling 90-day) driven by shared risk-on/off dynamics. ETH has outperformed the S&P on multi-year horizons but underperforms during risk-off events and certain regulatory windows. The S&P 500's aggregate market cap is roughly $50T+; ETH sits at $300B-$500B — roughly 0.7-1% of the index. ETH has embedded cash-flow-like characteristics via staking yield (~3-4% annualized) and EIP-1559 burn; S&P 500 earnings yield sits around 4-5%. For allocators, the comparison is about volatility-adjusted returns: ETH's annualized volatility (60-90%) is 4-6x the S&P's, requiring meaningful position-sizing discipline even at similar correlation.
Side-by-side crypto comparison with normalized returns
Rolling correlation between crypto and major TradFi benchmarks