South Korea Bull 3X ETF (bStocks Tokenized Stock) vs SPDR S&P 500 ETF (Ondo Tokenized ETF)

SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) is 13.5× the size of South Korea Bull 3X ETF (bStocks Tokenized Stock) (KORUB) by market capitalisation. Their daily returns move loosely together (correlation 0.48 across 53 shared trading days). KORUB has been the more volatile of the two, at 163% annualised against SPYON's 10%.

Correlation: 0.48
Size ratio: 1 : 13.5

South Korea Bull 3X ETF (bStocks Tokenized Stock)KORUB

$10.6100

24h: -1.35%
Market cap: $3.52M
Volume 24h: $4.16M
Volatility (ann.): 163%

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

$773.3600

24h: +1.36%
Market cap: $47.45M
Volume 24h: $1.68M
Volatility (ann.): 10%

KORUB 6.9%Share of the two combined market caps93.1% SPYON

Performance

KORUBSPYON

7 days-6.00%-1.77%SPYON
30 days-50.63%-1.20%SPYON
90 days-37.03%——

Correlation

0.48over 53 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5690d: 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	KORUB	SPYON
Max drawdown (400d)	-58.4%	-2.5%
Risk-adjusted return (90d)	-0.27	-0.12

Relative strength over 90 days: SPYON outperformed KORUB by 43.9% — measured on the KORUB/SPYON ratio, so it holds regardless of market direction.

South Korea Bull 3X ETF (bStocks Tokenized Stock) →SPDR S&P 500 ETF (Ondo Tokenized ETF) →