Alphabet xStock vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 1.4× the size of Alphabet xStock (GOOGLX) by market capitalisation. Over the past 30 days, CRCLON is ahead by 0.9 percentage points (GOOGLX -17.6% against CRCLON -16.7%). Their daily returns move barely together (correlation 0.21 across 48 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against GOOGLX's 33%.

Correlation: 0.21
Size ratio: 1 : 1.4
Ahead over 30 days: CRCLON

Alphabet xStockGOOGLX

$284.3400

24h: +1.58%
Market cap: $64.68M
Volume 24h: $2.34M
Volatility (ann.): 33%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.1200

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

GOOGLX 41.9%Share of the two combined market caps58.1% CRCLON

Performance

GOOGLXCRCLON

7 days-12.83%-6.27%CRCLON
30 days-17.61%-16.67%CRCLON

Correlation

0.21over 48 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2790d: 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	GOOGLX	CRCLON
Max drawdown (400d)	-20.1%	-30.7%
Risk-adjusted return (90d)	-0.55	0.06

Relative strength over 90 days: CRCLON outperformed GOOGLX by 6.0% — measured on the GOOGLX/CRCLON ratio, so it holds regardless of market direction.

Alphabet xStock →Circle Internet Group (Ondo Tokenized Stock) →