Lumentum Holdings (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 116.8× the size of Lumentum Holdings (Ondo Tokenized) (LITEON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.12 across 35 shared trading days). Both have run at a similar volatility, around 99% annualised.

Correlation: -0.12
Size ratio: 1 : 116.8

Lumentum Holdings (Ondo Tokenized)LITEON

$658.8600

24h: -5.16%
Market cap: $760,042
Volume 24h: $512,851
Volatility (ann.): 99%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.1900

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

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

Performance

LITEONCRCLON

7 days-4.30%-6.27%LITEON
30 days+2.49%-16.67%LITEON
90 days+7.09%——

Correlation

-0.12over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1190d: 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	LITEON	CRCLON
Max drawdown (400d)	-33.3%	-30.7%
Risk-adjusted return (90d)	0.07	0.06

Relative strength over 90 days: CRCLON outperformed LITEON by 11.2% — measured on the LITEON/CRCLON ratio, so it holds regardless of market direction.

Lumentum Holdings (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →