Applied Digital • Robinhood Token vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 4660.4× the size of Applied Digital • Robinhood Token (APLD) by market capitalisation. Over the past 30 days, CRCLON is ahead by 23.5 percentage points (APLD -39.3% against CRCLON -15.9%). Their daily returns move barely together (correlation 0.29 across 21 shared trading days). Both have run at a similar volatility, around 99% annualised.

Correlation: 0.29
Size ratio: 1 : 4660.4
Ahead over 30 days: CRCLON

Applied Digital • Robinhood TokenAPLD

$16.7200

24h: —
Market cap: $16,877
Volume 24h: $30
Volatility (ann.): 100%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$66.7400

24h: -12.80%
Market cap: $78.65M
Volume 24h: $1.20M
Volatility (ann.): 97%

APLD 0.0%Share of the two combined market caps100.0% CRCLON

Performance

APLDCRCLON

7 days-18.77%-5.63%CRCLON
30 days-39.33%-15.88%CRCLON

Correlation

0.29over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	APLD	CRCLON
Max drawdown (400d)	-39.3%	-30.7%
Risk-adjusted return (90d)	-0.36	0.06

Relative strength over 90 days: CRCLON outperformed APLD by 20.9% — measured on the APLD/CRCLON ratio, so it holds regardless of market direction.

Applied Digital • Robinhood Token →Circle Internet Group (Ondo Tokenized Stock) →