iShares MSCI South Korea ETF (bStocks Tokenized Stock) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 5.2× the size of iShares MSCI South Korea ETF (bStocks Tokenized Stock) (EWYB) by market capitalisation. Their daily returns move loosely together (correlation 0.46 across 53 shared trading days). EWYB has been the more volatile of the two, at 58% annualised against SPYON's 10%.

Correlation: 0.46
Size ratio: 1 : 5.2

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%

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%

EWYB 16.2%Share of the two combined market caps83.8% SPYON

Performance

EWYBSPYON

7 days-1.17%-1.77%EWYB
30 days-18.53%-1.20%SPYON
90 days-6.72%——

Correlation

0.46over 53 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5490d: 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	SPYON
Max drawdown (400d)	-31.3%	-2.5%
Risk-adjusted return (90d)	-0.15	-0.12

Relative strength over 90 days: SPYON outperformed EWYB by 11.3% — measured on the EWYB/SPYON ratio, so it holds regardless of market direction.

iShares MSCI South Korea ETF (bStocks Tokenized Stock) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →