PepsiCo xStock vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 233.4× the size of PepsiCo xStock (PEPX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.21 across 35 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against PEPX's 43%.

Correlation: -0.21
Size ratio: 1 : 233.4

PepsiCo xStockPEPX

$143.0900

24h: +3.53%
Market cap: $379,406
Volume 24h: $41,439
Volatility (ann.): 43%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.2100

24h: +1.02%
Market cap: $88.55M
Volume 24h: $1.61M
Volatility (ann.): 97%

PEPX 0.4%Share of the two combined market caps99.6% CRCLON

Performance

PEPXCRCLON

7 days-1.97%-5.63%PEPX
30 days-8.28%-15.88%PEPX
90 days-8.13%——
1 year-6.75%——

Correlation

-0.21over 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	PEPX	CRCLON
Max drawdown (400d)	-27.3%	-30.7%
Risk-adjusted return (90d)	-0.31	0.06

Relative strength over 90 days: CRCLON outperformed PEPX by 22.8% — measured on the PEPX/CRCLON ratio, so it holds regardless of market direction.

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