iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 10.0× the size of iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) (IEMGON) by market capitalisation. Over the past 30 days, IEMGON is ahead by 16.7 percentage points (IEMGON +0.0% against CRCLON -16.7%). Their daily returns move barely together (correlation 0.11 across 22 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against IEMGON's 22%.

Correlation: 0.11
Size ratio: 1 : 10.0
Ahead over 30 days: IEMGON

iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF)IEMGON

$74.6500

24h: -1.87%
Market cap: $9.02M
Volume 24h: $374
Volatility (ann.): 22%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.1200

24h: +5.01%
Market cap: $89.79M
Volume 24h: $697,234
Volatility (ann.): 98%

IEMGON 9.1%Share of the two combined market caps90.9% CRCLON

Performance

IEMGONCRCLON

7 days+1.25%-6.27%IEMGON
30 days+0.04%-16.67%IEMGON

Correlation

0.11over 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	IEMGON	CRCLON
Max drawdown (400d)	-4.8%	-30.7%
Risk-adjusted return (90d)	0.00	0.06

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

iShares Core MSCI Emerging Markets ETF (Ondo Tokenized ETF) →Circle Internet Group (Ondo Tokenized Stock) →