Applied Digital (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 471.1× the size of Applied Digital (Ondo Tokenized) (APLDON) by market capitalisation. Over the past 30 days, APLDON is ahead by 16.7 percentage points (APLDON +0.9% against CRCLON -15.9%). Their daily returns move barely together (correlation 0.21 across 35 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against APLDON's 68%.

Correlation: 0.21
Size ratio: 1 : 471.1
Ahead over 30 days: APLDON

Applied Digital (Ondo Tokenized)APLDON

$16.4600

24h: -4.11%
Market cap: $173,324
Volume 24h: $152,668
Volatility (ann.): 68%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$69.3500

24h: -5.53%
Market cap: $81.65M
Volume 24h: $1.12M
Volatility (ann.): 97%

APLDON 0.2%Share of the two combined market caps99.8% CRCLON

Performance

APLDONCRCLON

7 days-10.06%-5.63%CRCLON
30 days+0.86%-15.88%APLDON

Correlation

0.21over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2690d: 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	APLDON	CRCLON
Max drawdown (400d)	-24.8%	-30.7%
Risk-adjusted return (90d)	-0.17	0.06

Relative strength over 90 days: CRCLON outperformed APLDON by 24.1% — measured on the APLDON/CRCLON ratio, so it holds regardless of market direction.

Applied Digital (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →