Moderna (Backpack Securities) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 747.7× the size of Moderna (Backpack Securities) (MRNA) by market capitalisation. Over the past 30 days, MRNA is ahead by 97.6 percentage points (MRNA +81.7% against CRCLON -15.9%). Their daily returns move barely together (correlation 0.29 across 29 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against MRNA's 79%.

Correlation: 0.29
Size ratio: 1 : 747.7
Ahead over 30 days: MRNA

Moderna (Backpack Securities)MRNA

$259.0100

24h: +15.25%
Market cap: $104,993
Volume 24h: $74,507
Volatility (ann.): 79%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$66.7600

24h: -12.37%
Market cap: $78.51M
Volume 24h: $1.20M
Volatility (ann.): 97%

MRNA 0.1%Share of the two combined market caps99.9% CRCLON

Performance

MRNACRCLON

7 days+15.65%-5.63%MRNA
30 days+81.69%-15.88%MRNA

Correlation

0.29over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2990d: 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	MRNA	CRCLON
Max drawdown (400d)	-11.7%	-30.7%
Risk-adjusted return (90d)	0.77	0.06

Relative strength over 90 days: MRNA outperformed CRCLON by 88.6% — measured on the MRNA/CRCLON ratio, so it holds regardless of market direction.

Moderna (Backpack Securities) →Circle Internet Group (Ondo Tokenized Stock) →