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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 428.0× the size of Applied Optoelectronics (Ondo Tokenized) (AAOION) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.11 across 35 shared trading days). AAOION has been the more volatile of the two, at 130% annualised against CRCLON's 97%.

Correlation: -0.11
Size ratio: 1 : 428.0

Applied Optoelectronics (Ondo Tokenized)AAOION

$58.9000

24h: -5.99%
Market cap: $206,738
Volume 24h: $549,354
Volatility (ann.): 130%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.1600

24h: +0.53%
Market cap: $88.48M
Volume 24h: $1.60M
Volatility (ann.): 97%

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

Performance

AAOIONCRCLON

7 days-10.88%-5.63%CRCLON
30 days-6.83%-15.88%AAOION
90 days-32.68%——

Correlation

-0.11over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0390d: 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	AAOION	CRCLON
Max drawdown (400d)	-54.6%	-30.7%
Risk-adjusted return (90d)	-0.25	0.06

Relative strength over 90 days: CRCLON outperformed AAOION by 34.9% — measured on the AAOION/CRCLON ratio, so it holds regardless of market direction.

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