iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 6.9× the size of iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF) (EEMON) by market capitalisation. Over the past 30 days, EEMON is ahead by 1.1 percentage points (EEMON -0.1% against SPYON -1.2%). Their daily returns move loosely together (correlation 0.49 across 27 shared trading days). EEMON has been the more volatile of the two, at 22% annualised against SPYON's 10%.

Correlation: 0.49
Size ratio: 1 : 6.9
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%

SPDR S&P 500 ETF (Ondo Tokenized ETF)SPYON

$766.6300

24h: +0.93%
Market cap: $47.03M
Volume 24h: $1.56M
Volatility (ann.): 10%

EEMON 12.7%Share of the two combined market caps87.3% SPYON

Performance

EEMONSPYON

7 days-2.38%-1.77%SPYON
30 days-0.06%-1.20%EEMON

Correlation

0.49over 27 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4990d: 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	SPYON
Max drawdown (400d)	-5.3%	-2.5%
Risk-adjusted return (90d)	0.00	-0.12

Relative strength over 90 days: EEMON outperformed SPYON by 0.4% — measured on the EEMON/SPYON ratio, so it holds regardless of market direction.

iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →