iShares 0-3 Month Treasury Bond ETF (Ondo Tokenized ETF) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 10.6× the size of iShares 0-3 Month Treasury Bond ETF (Ondo Tokenized ETF) (SGOVON) by market capitalisation. Over the past 30 days, SGOVON is ahead by 20.2 percentage points (SGOVON +3.5% against CRCLON -16.7%). Their daily returns move barely in opposite directions (correlation -0.13 across 34 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against SGOVON's 12%.

Correlation: -0.13
Size ratio: 1 : 10.6
Ahead over 30 days: SGOVON

iShares 0-3 Month Treasury Bond ETF (Ondo Tokenized ETF)SGOVON

$102.8600

24h: +0.00%
Market cap: $8.50M
Volume 24h: $124,018
Volatility (ann.): 12%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.7100

24h: +1.36%
Market cap: $90.35M
Volume 24h: $1.68M
Volatility (ann.): 98%

SGOVON 8.6%Share of the two combined market caps91.4% CRCLON

Performance

SGOVONCRCLON

7 days-0.04%-6.27%SGOVON
30 days+3.55%-16.67%SGOVON

Correlation

-0.13over 34 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1090d: 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	SGOVON	CRCLON
Max drawdown (400d)	-1.5%	-30.7%
Risk-adjusted return (90d)	0.29	0.06

Relative strength over 90 days: SGOVON outperformed CRCLON by 20.1% — measured on the SGOVON/CRCLON ratio, so it holds regardless of market direction.

iShares 0-3 Month Treasury Bond ETF (Ondo Tokenized ETF) →Circle Internet Group (Ondo Tokenized Stock) →