Marvell Technology (Backpack Securities) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 414.8× the size of Marvell Technology (Backpack Securities) (MRVL) by market capitalisation. Over the past 30 days, CRCLON is ahead by 16.5 percentage points (MRVL -32.4% against CRCLON -15.9%). Their daily returns move barely together (correlation 0.20 across 29 shared trading days). Both have run at a similar volatility, around 95% annualised.

Correlation: 0.20
Size ratio: 1 : 414.8
Ahead over 30 days: CRCLON

Marvell Technology (Backpack Securities)MRVL

$156.9000

24h: -5.63%
Market cap: $196,848
Volume 24h: $92,153
Volatility (ann.): 92%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$69.3500

24h: -5.53%
Market cap: $81.65M
Volume 24h: $1.12M
Volatility (ann.): 97%

MRVL 0.2%Share of the two combined market caps99.8% CRCLON

Performance

MRVLCRCLON

7 days-36.72%-5.63%CRCLON
30 days-32.42%-15.88%CRCLON

Correlation

0.20over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2090d: 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	MRVL	CRCLON
Max drawdown (400d)	-40.0%	-30.7%
Risk-adjusted return (90d)	-0.27	0.06

Relative strength over 90 days: CRCLON outperformed MRVL by 11.4% — measured on the MRVL/CRCLON ratio, so it holds regardless of market direction.

Marvell Technology (Backpack Securities) →Circle Internet Group (Ondo Tokenized Stock) →