Linde plc (Ondo Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 51.5× the size of Linde plc (Ondo Tokenized Stock) (LINON) by market capitalisation. Over the past 30 days, LINON is ahead by 13.6 percentage points (LINON -3.1% against CRCLON -16.7%). Their daily returns move barely together (correlation 0.23 across 21 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against LINON's 59%.

Correlation: 0.23
Size ratio: 1 : 51.5
Ahead over 30 days: LINON

Linde plc (Ondo Tokenized Stock)LINON

$523.8200

24h: -1.92%
Market cap: $1.70M
Volume 24h: $46
Volatility (ann.): 59%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$74.3200

24h: +2.18%
Market cap: $87.59M
Volume 24h: $1.03M
Volatility (ann.): 98%

LINON 1.9%Share of the two combined market caps98.1% CRCLON

Performance

LINONCRCLON

7 days+2.61%-6.27%LINON
30 days-3.07%-16.67%LINON

Correlation

0.23over 21 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	LINON	CRCLON
Max drawdown (400d)	-14.4%	-30.7%
Risk-adjusted return (90d)	-0.05	0.06

Relative strength over 90 days: LINON outperformed CRCLON by 8.0% — measured on the LINON/CRCLON ratio, so it holds regardless of market direction.

Linde plc (Ondo Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →