iShares Core S&P 500 ETF (Ondo Tokenized ETF) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 1.5× the size of iShares Core S&P 500 ETF (Ondo Tokenized ETF) (IVVON) by market capitalisation. Over the past 30 days, IVVON is ahead by 26.4 percentage points (IVVON +9.8% against CRCLON -16.7%). Their daily returns move barely together (correlation 0.08 across 54 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against IVVON's 71%.

Correlation: 0.08
Size ratio: 1 : 1.5
Ahead over 30 days: IVVON

iShares Core S&P 500 ETF (Ondo Tokenized ETF)IVVON

$777.5200

24h: +1.22%
Market cap: $60.56M
Volume 24h: $1,326
Volatility (ann.): 71%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.3500

24h: +1.02%
Market cap: $89.88M
Volume 24h: $1.40M
Volatility (ann.): 98%

IVVON 40.3%Share of the two combined market caps59.7% CRCLON

Performance

IVVONCRCLON

7 days-1.45%-6.27%IVVON
30 days+9.76%-16.67%IVVON

Correlation

0.08over 54 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0890d: 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	IVVON	CRCLON
Max drawdown (400d)	-15.7%	-30.7%
Risk-adjusted return (90d)	-0.02	0.06

Relative strength over 90 days: IVVON outperformed CRCLON by 2.4% — measured on the IVVON/CRCLON ratio, so it holds regardless of market direction.

iShares Core S&P 500 ETF (Ondo Tokenized ETF) →Circle Internet Group (Ondo Tokenized Stock) →