Circle Internet Group (Ondo Tokenized Stock) vs MicroStrategy xStock

MicroStrategy xStock (MSTRX) is 1.6× the size of Circle Internet Group (Ondo Tokenized Stock) (CRCLON) by market capitalisation. Over the past 30 days, MSTRX is ahead by 23.6 percentage points (CRCLON -30.3% against MSTRX -6.7%). Their daily returns move closely together (correlation 0.85 across 56 shared trading days). Both have run at a similar volatility, around 103% annualised.

Correlation: 0.85
Size ratio: 1 : 1.6
Ahead over 30 days: MSTRX

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$68.2600

24h: -9.59%
Market cap: $80.55M
Volume 24h: $1.33M
Volatility (ann.): 100%

MicroStrategy xStockMSTRX

$129.2400

24h: -10.15%
Market cap: $125.88M
Volume 24h: $5.44M
Volatility (ann.): 105%

CRCLON 39.0%Share of the two combined market caps61.0% MSTRX

Performance

CRCLONMSTRX

7 days-11.43%-5.57%MSTRX
30 days-30.30%-6.73%MSTRX

Correlation

0.85over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8090d: 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	CRCLON	MSTRX
Max drawdown (400d)	-34.9%	-20.7%
Risk-adjusted return (90d)	-0.05	0.21

Relative strength over 90 days: MSTRX outperformed CRCLON by 29.5% — measured on the CRCLON/MSTRX ratio, so it holds regardless of market direction.

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