Honeywell xStock vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 576.9× the size of Honeywell xStock (HONX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 35 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against HONX's 38%.

Correlation: -0.04
Size ratio: 1 : 576.9

Honeywell xStockHONX

$227.5700

24h: +2.58%
Market cap: $141,536
Volume 24h: $27,155
Volatility (ann.): 38%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$69.3500

24h: -5.53%
Market cap: $81.65M
Volume 24h: $1.12M
Volatility (ann.): 97%

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

Performance

HONXCRCLON

7 days-0.52%-5.63%HONX
30 days-3.99%-15.88%HONX
90 days-11.59%——
1 year-1.61%——

Correlation

-0.04over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0790d: 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	HONX	CRCLON
Max drawdown (400d)	-23.7%	-30.7%
Risk-adjusted return (90d)	-0.32	0.06

Relative strength over 90 days: CRCLON outperformed HONX by 23.6% — measured on the HONX/CRCLON ratio, so it holds regardless of market direction.

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