MP Materials (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 302.9× the size of MP Materials (Ondo Tokenized) (MPON) by market capitalisation. Their daily returns move barely together (correlation 0.19 across 35 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against MPON's 66%.

Correlation: 0.19
Size ratio: 1 : 302.9

MP Materials (Ondo Tokenized)MPON

$35.9900

24h: -3.84%
Market cap: $287,862
Volume 24h: $774,897
Volatility (ann.): 66%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$74.0700

24h: +1.25%
Market cap: $87.21M
Volume 24h: $1.22M
Volatility (ann.): 97%

MPON 0.3%Share of the two combined market caps99.7% CRCLON

Performance

MPONCRCLON

7 days-3.46%-5.63%MPON
30 days-13.23%-15.88%MPON
90 days-12.88%——

Correlation

0.19over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 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	MPON	CRCLON
Max drawdown (400d)	-46.1%	-30.7%
Risk-adjusted return (90d)	-0.21	0.06

Relative strength over 90 days: CRCLON outperformed MPON by 27.6% — measured on the MPON/CRCLON ratio, so it holds regardless of market direction.

MP Materials (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →