iShares MSCI South Korea ETF (bStocks Tokenized Stock) vs SP500 xStock

SP500 xStock (SPYX) is 7.9× the size of iShares MSCI South Korea ETF (bStocks Tokenized Stock) (EWYB) by market capitalisation. Their daily returns move barely together (correlation 0.26 across 55 shared trading days). EWYB has been the more volatile of the two, at 58% annualised against SPYX's 11%.

Correlation: 0.26
Size ratio: 1 : 7.9

iShares MSCI South Korea ETF (bStocks Tokenized Stock)EWYB

$154.5800

24h: -0.55%
Market cap: $9.06M
Volume 24h: $356,865
Volatility (ann.): 58%

SP500 xStockSPYX

$766.1600

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

EWYB 11.2%Share of the two combined market caps88.8% SPYX

Performance

EWYBSPYX

7 days-1.17%-1.60%EWYB
30 days-18.53%-1.10%SPYX
90 days-6.72%——

Correlation

0.26over 55 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2690d: 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	EWYB	SPYX
Max drawdown (400d)	-31.3%	-2.7%
Risk-adjusted return (90d)	-0.15	-0.14

Relative strength over 90 days: SPYX outperformed EWYB by 9.9% — measured on the EWYB/SPYX ratio, so it holds regardless of market direction.

iShares MSCI South Korea ETF (bStocks Tokenized Stock) →SP500 xStock →