iShares China Large-Cap ETF (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 38.4× the size of iShares China Large-Cap ETF (Ondo Tokenized) (FXION) by market capitalisation. Over the past 30 days, FXION is ahead by 12.9 percentage points (FXION -3.8% against CRCLON -16.7%). Their daily returns move barely together (correlation 0.09 across 22 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against FXION's 36%.

Correlation: 0.09
Size ratio: 1 : 38.4
Ahead over 30 days: FXION

iShares China Large-Cap ETF (Ondo Tokenized)FXION

$33.3500

24h: +0.23%
Market cap: $2.31M
Volume 24h: $3.72M
Volatility (ann.): 36%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.1900

24h: +4.70%
Market cap: $88.78M
Volume 24h: $695,113
Volatility (ann.): 98%

FXION 2.5%Share of the two combined market caps97.5% CRCLON

Performance

FXIONCRCLON

7 days-1.30%-6.27%FXION
30 days-3.81%-16.67%FXION

Correlation

0.09over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	FXION	CRCLON
Max drawdown (400d)	-7.1%	-30.7%
Risk-adjusted return (90d)	-0.11	0.06

Relative strength over 90 days: FXION outperformed CRCLON by 8.6% — measured on the FXION/CRCLON ratio, so it holds regardless of market direction.

iShares China Large-Cap ETF (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →