iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF) vs Strategy Stretch Preferred (Ondo Tokenized)

Strategy Stretch Preferred (Ondo Tokenized) (STRCON) is 7.8× the size of iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF) (EEMON) by market capitalisation. Their daily returns move barely together (correlation 0.34 across 31 shared trading days). Both have run at a similar volatility, around 21% annualised.

Correlation: 0.34
Size ratio: 1 : 7.8

iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF)EEMON

$61.2600

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

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.3900

24h: -0.27%
Market cap: $52.96M
Volume 24h: $1.13M
Volatility (ann.): 20%

EEMON 11.4%Share of the two combined market caps88.6% STRCON

Performance

EEMONSTRCON

7 days-2.38%+0.80%STRCON
30 days-0.06%+3.71%STRCON
90 days—+18.91%—

Correlation

0.34over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3490d: 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	STRCON
Max drawdown (400d)	-5.3%	-4.3%
Risk-adjusted return (90d)	0.00	1.13

Relative strength over 90 days: STRCON outperformed EEMON by 2.1% — measured on the EEMON/STRCON ratio, so it holds regardless of market direction.

iShares MSCI Emerging Markets ETF (Ondo Tokenized ETF) →Strategy Stretch Preferred (Ondo Tokenized) →