Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 9.9× the size of Intel (Ondo Tokenized Stock) (INTCON) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 43 shared trading days). Both have run at a similar volatility, around 95% annualised.
$59.0000
$76.9500
INTCONCRCLON
0.36over 43 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 | INTCON | CRCLON |
|---|---|---|
| Max drawdown (400d) | -57.4% | -30.7% |
| Risk-adjusted return (90d) | -0.40 | 0.06 |
| Best 30 days (past year) | +141.1% | — |
| Worst 30 days (past year) | -38.4% | — |
Relative strength over 90 days: CRCLON outperformed INTCON by 39.7% — measured on the INTCON/CRCLON ratio, so it holds regardless of market direction.