iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 5.4× the size of iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) (IEFAON) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against IEFAON's 25%.

Correlation: 0.07
Size ratio: 1 : 5.4

iShares Core MSCI EAFE ETF (Ondo Tokenized ETF)IEFAON

$98.0600

24h: -0.87%
Market cap: $16.77M
Volume 24h: $1.01M
Volatility (ann.): 25%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.9100

24h: +1.37%
Market cap: $90.55M
Volume 24h: $1.69M
Volatility (ann.): 98%

IEFAON 15.6%Share of the two combined market caps84.4% CRCLON

Performance

IEFAONCRCLON

7 days-0.46%-6.27%IEFAON
30 days-2.03%-16.67%IEFAON
90 days+1.97%——
1 year+13.53%——

Correlation

0.07over 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	IEFAON	CRCLON
Max drawdown (400d)	-11.0%	-30.7%
Risk-adjusted return (90d)	0.09	0.06

Relative strength over 90 days: CRCLON outperformed IEFAON by 17.7% — measured on the IEFAON/CRCLON ratio, so it holds regardless of market direction.

iShares Core MSCI EAFE ETF (Ondo Tokenized ETF) →Circle Internet Group (Ondo Tokenized Stock) →