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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 519.9× the size of Ondas Holdings (Ondo Tokenized) (ONDSON) by market capitalisation. Their daily returns move barely together (correlation 0.28 across 35 shared trading days). Both have run at a similar volatility, around 96% annualised.

Correlation: 0.28
Size ratio: 1 : 519.9

Ondas Holdings (Ondo Tokenized)ONDSON

$5.2500

24h: -8.24%
Market cap: $167,729
Volume 24h: $785,091
Volatility (ann.): 95%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$74.0700

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

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

Performance

ONDSONCRCLON

7 days+3.35%-5.63%ONDSON
30 days-4.13%-15.88%ONDSON
90 days-8.03%——

Correlation

0.28over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3590d: 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	ONDSON	CRCLON
Max drawdown (400d)	-52.9%	-30.7%
Risk-adjusted return (90d)	-0.10	0.06

Relative strength over 90 days: CRCLON outperformed ONDSON by 28.5% — measured on the ONDSON/CRCLON ratio, so it holds regardless of market direction.

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