International Stable Currency vs OnRe Tokenized Reinsurance

OnRe Tokenized Reinsurance (ONYC) is 49.2× the size of International Stable Currency (ISC) by market capitalisation. Over the past 30 days, ONYC is ahead by 3.1 percentage points (ISC -2.3% against ONYC +0.9%). Their daily returns move barely together (correlation 0.22 across 32 shared trading days). ISC has been the more volatile of the two, at 26% annualised against ONYC's 6%.

Correlation: 0.22
Size ratio: 1 : 49.2
Ahead over 30 days: ONYC

International Stable CurrencyISC

$2.1600

24h: -0.17%
Market cap: $2.41M
Volume 24h: $2,768
Volatility (ann.): 26%

OnRe Tokenized ReinsuranceONYC

$1.1600

24h: +0.24%
Market cap: $118.63M
Volume 24h: $2.76M
Volatility (ann.): 6%

ISC 2.0%Share of the two combined market caps98.0% ONYC

Performance

ISCONYC

7 days+0.00%-0.86%ISC
30 days-2.27%+0.88%ONYC

Correlation

0.22over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2290d: 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	ISC	ONYC
Max drawdown (400d)	-5.8%	-0.9%
Risk-adjusted return (90d)	-0.10	0.28

Relative strength over 90 days: ONYC outperformed ISC by 3.6% — measured on the ISC/ONYC ratio, so it holds regardless of market direction.

International Stable Currency →OnRe Tokenized Reinsurance →