ProShares UltraPro QQQ (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 19.8× the size of ProShares UltraPro QQQ (Ondo Tokenized) (TQQQON) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against TQQQON's 65%.

Correlation: 0.41
Size ratio: 1 : 19.8

ProShares UltraPro QQQ (Ondo Tokenized)TQQQON

$58.0000

24h: -3.56%
Market cap: $4.53M
Volume 24h: $807,512
Volatility (ann.): 65%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.1200

24h: +5.01%
Market cap: $89.79M
Volume 24h: $697,234
Volatility (ann.): 98%

TQQQON 4.8%Share of the two combined market caps95.2% CRCLON

Performance

TQQQONCRCLON

7 days-2.53%-6.27%TQQQON
30 days+8.63%-16.67%TQQQON
90 days-3.94%——

Correlation

0.41over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4890d: 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	TQQQON	CRCLON
Max drawdown (400d)	-34.3%	-30.7%
Risk-adjusted return (90d)	-0.06	0.06

Relative strength over 90 days: CRCLON outperformed TQQQON by 9.6% — measured on the TQQQON/CRCLON ratio, so it holds regardless of market direction.

ProShares UltraPro QQQ (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →