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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 12.1× the size of Coinbase (Ondo Tokenized Stock) (COINON) by market capitalisation. Their daily returns move very closely together (correlation 0.90 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against COINON's 72%.

Correlation: 0.90
Size ratio: 1 : 12.1

Coinbase (Ondo Tokenized Stock)COINON

$142.8200

24h: +3.44%
Market cap: $7.38M
Volume 24h: $1.33M
Volatility (ann.): 72%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.5900

24h: +4.73%
Market cap: $89.29M
Volume 24h: $678,972
Volatility (ann.): 98%

COINON 7.6%Share of the two combined market caps92.4% CRCLON

Performance

COINONCRCLON

7 days-5.06%-6.27%COINON
30 days+7.21%-16.67%COINON
90 days+19.24%——
1 year-45.23%——

Correlation

0.90over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.9090d: 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	COINON	CRCLON
Max drawdown (400d)	-63.3%	-30.7%
Risk-adjusted return (90d)	0.26	0.06

Relative strength over 90 days: COINON outperformed CRCLON by 8.9% — measured on the COINON/CRCLON ratio, so it holds regardless of market direction.

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