iShares MSCI Brazil ETF Tokenized Stock (Reality) vs Tether Gold

Tether Gold (XAUT) is 91120.7× the size of iShares MSCI Brazil ETF Tokenized Stock (Reality) (REWZ) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.03 across 25 shared trading days). REWZ has been the more volatile of the two, at 100% annualised against XAUT's 24%.

Correlation: -0.03
Size ratio: 1 : 91120.7

iShares MSCI Brazil ETF Tokenized Stock (Reality)REWZ

$31.6000

24h: -2.02%
Market cap: $36,150
Volume 24h: $148
Volatility (ann.): 100%

Tether GoldXAUT

$4,075.69

24h: +3.77%
Market cap: $3.29B
Volume 24h: $268.77M
Volatility (ann.): 24%

REWZ 0.0%Share of the two combined market caps100.0% XAUT

Performance

REWZXAUT

7 days-18.58%+0.05%XAUT
30 days-5.77%-2.08%XAUT
90 days—-4.40%—

Correlation

-0.03over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0390d: 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	REWZ	XAUT
Max drawdown (400d)	-21.7%	-19.4%
Risk-adjusted return (90d)	-0.06	-0.20

Relative strength over 90 days: XAUT outperformed REWZ by 3.8% — measured on the REWZ/XAUT ratio, so it holds regardless of market direction.

iShares MSCI Brazil ETF Tokenized Stock (Reality) →Tether Gold →