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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 32.6× the size of IBM (Ondo Tokenized Stock) (IBMON) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against IBMON's 52%.

Correlation: 0.23
Size ratio: 1 : 32.6

IBM (Ondo Tokenized Stock)IBMON

$252.8200

24h: -1.75%
Market cap: $2.65M
Volume 24h: $1.09M
Volatility (ann.): 52%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.2000

24h: -1.20%
Market cap: $86.21M
Volume 24h: $1.14M
Volatility (ann.): 98%

IBMON 3.0%Share of the two combined market caps97.0% CRCLON

Performance

IBMONCRCLON

7 days-2.65%-6.27%IBMON
30 days-4.29%-16.67%IBMON
90 days-19.47%——
1 year-25.23%——

Correlation

0.23over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2090d: 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	IBMON	CRCLON
Max drawdown (400d)	-36.9%	-30.7%
Risk-adjusted return (90d)	-0.34	0.06

Relative strength over 90 days: CRCLON outperformed IBMON by 18.7% — measured on the IBMON/CRCLON ratio, so it holds regardless of market direction.

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