Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 123.5× the size of DFDV xStock (DFDVX) by market capitalisation. Their daily returns move closely together (correlation 0.70 across 44 shared trading days). DFDVX has been the more volatile of the two, at 114% annualised against CRCLON's 98%.
$73.9900
DFDVXCRCLON
0.70over 44 shared trading days
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.
| Metric | DFDVX | CRCLON |
|---|---|---|
| Max drawdown (400d) | -85.5% | -30.7% |
| Risk-adjusted return (90d) | 0.05 | 0.06 |
| Best 30 days (past year) | +111.8% | — |
| Worst 30 days (past year) | -56.6% | — |
Relative strength over 90 days: CRCLON outperformed DFDVX by 0.7% — measured on the DFDVX/CRCLON ratio, so it holds regardless of market direction.