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

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 61.7× the size of iShares MSCI South Korea ETF (Ondo Tokenized) (EWYON) by market capitalisation. Their daily returns move loosely together (correlation 0.44 across 37 shared trading days). EWYON has been the more volatile of the two, at 66% annualised against SPYON's 10%.

Correlation: 0.44
Size ratio: 1 : 61.7

iShares MSCI South Korea ETF (Ondo Tokenized)EWYON

$151.1100

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

SPDR S&P 500 ETF (Ondo Tokenized ETF)SPYON

$767.6300

24h: +1.13%
Market cap: $47.08M
Volume 24h: $1.56M
Volatility (ann.): 10%

EWYON 1.6%Share of the two combined market caps98.4% SPYON

Performance

EWYONSPYON

7 days-4.42%-1.77%SPYON
30 days-1.53%-1.20%SPYON
90 days-1.65%——

Correlation

0.44over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5390d: 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	SPYON
Max drawdown (400d)	-34.1%	-2.5%
Risk-adjusted return (90d)	-0.03	-0.12

Relative strength over 90 days: EWYON outperformed SPYON by 0.6% — measured on the EWYON/SPYON ratio, so it holds regardless of market direction.

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