Mastercard xStock vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 412.8× the size of Mastercard xStock (MAX) by market capitalisation. Over the past 30 days, MAX is ahead by 10.4 percentage points (MAX -5.4% against CRCLON -15.9%). Their daily returns move barely together (correlation 0.08 across 21 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against MAX's 24%.

Correlation: 0.08
Size ratio: 1 : 412.8
Ahead over 30 days: MAX

Mastercard xStockMAX

$670.7600

24h: +4.00%
Market cap: $215,327
Volume 24h: $25,302
Volatility (ann.): 24%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.5000

24h: +0.55%
Market cap: $88.88M
Volume 24h: $1.29M
Volatility (ann.): 97%

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

Performance

MAXCRCLON

7 days-2.90%-5.63%MAX
30 days-5.43%-15.88%MAX

Correlation

0.08over 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	MAX	CRCLON
Max drawdown (400d)	-6.7%	-30.7%
Risk-adjusted return (90d)	-0.23	0.06

Relative strength over 90 days: MAX outperformed CRCLON by 2.0% — measured on the MAX/CRCLON ratio, so it holds regardless of market direction.

Mastercard xStock →Circle Internet Group (Ondo Tokenized Stock) →