iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF) vs SP500 xStock

SP500 xStock (SPYX) is 10.5× the size of iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF) (EEMON) by market capitalisation. Over the past 30 days, EEMON is ahead by 1.0 percentage points (EEMON -0.1% against SPYX -1.1%). Their daily returns move loosely together (correlation 0.46 across 25 shared trading days). EEMON has been the more volatile of the two, at 22% annualised against SPYX's 11%.

Correlation: 0.46
Size ratio: 1 : 10.5
Ahead over 30 days: EEMON

iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF)EEMON

$61.2600

24h: -1.56%
Market cap: $6.83M
Volume 24h: $146
Volatility (ann.): 22%

SP500 xStockSPYX

$766.1600

24h: +1.27%
Market cap: $71.48M
Volume 24h: $8.70M
Volatility (ann.): 11%

EEMON 8.7%Share of the two combined market caps91.3% SPYX

Performance

EEMONSPYX

7 days-2.38%-1.60%SPYX
30 days-0.06%-1.10%EEMON

Correlation

0.46over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4690d: 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	EEMON	SPYX
Max drawdown (400d)	-5.3%	-2.7%
Risk-adjusted return (90d)	0.00	-0.14

Relative strength over 90 days: EEMON outperformed SPYX by 0.7% — measured on the EEMON/SPYX ratio, so it holds regardless of market direction.

iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF) →SP500 xStock →