iShares MSCI South Korea ETF (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 117.6× the size of iShares MSCI South Korea ETF (Ondo Tokenized) (EWYON) by market capitalisation. Their daily returns move barely together (correlation 0.25 across 37 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against EWYON's 66%.

Correlation: 0.25
Size ratio: 1 : 117.6

iShares MSCI South Korea ETF (Ondo Tokenized)EWYON

$151.1100

24h: -2.10%
Market cap: $763,419
Volume 24h: $466,113
Volatility (ann.): 66%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.1200

24h: +5.01%
Market cap: $89.79M
Volume 24h: $697,234
Volatility (ann.): 98%

EWYON 0.8%Share of the two combined market caps99.2% CRCLON

Performance

EWYONCRCLON

7 days-4.42%-6.27%EWYON
30 days-1.53%-16.67%EWYON
90 days-1.65%——

Correlation

0.25over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1890d: 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	EWYON	CRCLON
Max drawdown (400d)	-34.1%	-30.7%
Risk-adjusted return (90d)	-0.03	0.06

Relative strength over 90 days: EWYON outperformed CRCLON by 2.9% — measured on the EWYON/CRCLON ratio, so it holds regardless of market direction.

iShares MSCI South Korea ETF (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →