iShares MSCI South Korea ETF (bStocks Tokenized Stock) vs Tether Gold

Tether Gold (XAUT) is 359.2× the size of iShares MSCI South Korea ETF (bStocks Tokenized Stock) (EWYB) by market capitalisation. Over the past 90 days, EWYB is ahead by 0.9 percentage points (EWYB -6.7% against XAUT -7.6%). Their daily returns move barely together (correlation 0.24 across 134 shared trading days). EWYB has been the more volatile of the two, at 58% annualised against XAUT's 24%.

Correlation: 0.24
Size ratio: 1 : 359.2
Ahead over 90 days: EWYB

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%

Tether GoldXAUT

$4,033

24h: +1.85%
Market cap: $3.25B
Volume 24h: $260.40M
Volatility (ann.): 24%

EWYB 0.3%Share of the two combined market caps99.7% XAUT

Performance

EWYBXAUT

7 days-1.17%-3.11%EWYB
30 days-18.53%-5.07%XAUT
90 days-6.72%-7.64%EWYB

Correlation

0.24over 134 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2890d: 0.361y: 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	XAUT
Max drawdown (400d)	-31.3%	-19.4%
Risk-adjusted return (90d)	-0.15	-0.36

Relative strength over 90 days: EWYB outperformed XAUT by 1.0% — measured on the EWYB/XAUT ratio, so it holds regardless of market direction.

iShares MSCI South Korea ETF (bStocks Tokenized Stock) →Tether Gold →