Ciena (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 182.8× the size of Ciena (Ondo Tokenized) (CIENON) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.36 across 35 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against CIENON's 83%.

Correlation: -0.36
Size ratio: 1 : 182.8

Ciena (Ondo Tokenized)CIENON

$268.1000

24h: -7.85%
Market cap: $484,514
Volume 24h: $154,728
Volatility (ann.): 83%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.2100

24h: +1.02%
Market cap: $88.55M
Volume 24h: $1.61M
Volatility (ann.): 97%

CIENON 0.5%Share of the two combined market caps99.5% CRCLON

Performance

CIENONCRCLON

7 days-6.48%-5.63%CRCLON
30 days-8.32%-15.88%CIENON
90 days-20.42%——

Correlation

-0.36over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3990d: 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	CIENON	CRCLON
Max drawdown (400d)	-32.0%	-30.7%
Risk-adjusted return (90d)	-0.24	0.06

Relative strength over 90 days: CRCLON outperformed CIENON by 27.7% — measured on the CIENON/CRCLON ratio, so it holds regardless of market direction.

Ciena (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →