Palo Alto Networks (Ondo Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 32.0× the size of Palo Alto Networks (Ondo Tokenized Stock) (PANWON) by market capitalisation. Their daily returns move barely together (correlation 0.21 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against PANWON's 54%.

Correlation: 0.21
Size ratio: 1 : 32.0

Palo Alto Networks (Ondo Tokenized Stock)PANWON

$341.5100

24h: -3.54%
Market cap: $2.71M
Volume 24h: $144,722
Volatility (ann.): 54%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.7900

24h: +1.32%
Market cap: $86.85M
Volume 24h: $1.01M
Volatility (ann.): 98%

PANWON 3.0%Share of the two combined market caps97.0% CRCLON

Performance

PANWONCRCLON

7 days+1.11%-6.27%PANWON
30 days+1.15%-16.67%PANWON
90 days+9.88%——

Correlation

0.21over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3290d: 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	PANWON	CRCLON
Max drawdown (400d)	-16.6%	-30.7%
Risk-adjusted return (90d)	0.18	0.06

Relative strength over 90 days: CRCLON outperformed PANWON by 15.8% — measured on the PANWON/CRCLON ratio, so it holds regardless of market direction.

Palo Alto Networks (Ondo Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →