iShares Semiconductor ETF (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 119.7× the size of iShares Semiconductor ETF (Ondo Tokenized) (SOXXON) by market capitalisation. Their daily returns move barely together (correlation 0.12 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against SOXXON's 57%.

Correlation: 0.12
Size ratio: 1 : 119.7

iShares Semiconductor ETF (Ondo Tokenized)SOXXON

$455.7100

24h: -0.98%
Market cap: $748,555
Volume 24h: $161,240
Volatility (ann.): 57%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.0600

24h: -0.49%
Market cap: $89.57M
Volume 24h: $1.66M
Volatility (ann.): 98%

SOXXON 0.8%Share of the two combined market caps99.2% CRCLON

Performance

SOXXONCRCLON

7 days-1.96%-6.27%SOXXON
30 days+8.80%-16.67%SOXXON
90 days-13.90%——

Correlation

0.12over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1790d: 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	SOXXON	CRCLON
Max drawdown (400d)	-28.8%	-30.7%
Risk-adjusted return (90d)	-0.27	0.06

Relative strength over 90 days: CRCLON outperformed SOXXON by 12.4% — measured on the SOXXON/CRCLON ratio, so it holds regardless of market direction.

iShares Semiconductor ETF (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →