iShares MSCI South Korea ETF (Ondo Tokenized) vs iShares Core S&P 500 ETF (Ondo Tokenized ETF)

iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) is 78.9× the size of iShares MSCI South Korea ETF (Ondo Tokenized) (EWYON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.13 across 37 shared trading days). Both have run at a similar volatility, around 68% annualised.

Correlation: -0.13
Size ratio: 1 : 78.9

iShares MSCI South Korea ETF (Ondo Tokenized)EWYON

$151.1100

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

iShares Core S&P 500 ETF (Ondo Tokenized ETF)IVVON

$773.7300

24h: +1.19%
Market cap: $60.24M
Volume 24h: $1,666
Volatility (ann.): 71%

EWYON 1.3%Share of the two combined market caps98.7% IVVON

Performance

EWYONIVVON

7 days-4.42%-1.45%IVVON
30 days-1.53%+9.76%IVVON
90 days-1.65%——

Correlation

-0.13over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1690d: 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	IVVON
Max drawdown (400d)	-34.1%	-15.7%
Risk-adjusted return (90d)	-0.03	-0.02

Relative strength over 90 days: EWYON outperformed IVVON by 2.4% — measured on the EWYON/IVVON ratio, so it holds regardless of market direction.

iShares MSCI South Korea ETF (Ondo Tokenized) →iShares Core S&P 500 ETF (Ondo Tokenized ETF) →