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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 461.4× the size of ProShares UltraPro Short QQQ (Ondo Tokenized) (SQQQON) by market capitalisation. Over the past 30 days, SQQQON is ahead by 2.0 percentage points (SQQQON -13.9% against CRCLON -15.9%). Their daily returns move loosely in opposite directions (correlation -0.52 across 21 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against SQQQON's 46%.

Correlation: -0.52
Size ratio: 1 : 461.4
Ahead over 30 days: SQQQON

ProShares UltraPro Short QQQ (Ondo Tokenized)SQQQON

$43.1100

24h: -3.34%
Market cap: $176,986
Volume 24h: $81,855
Volatility (ann.): 46%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$69.3500

24h: -5.53%
Market cap: $81.65M
Volume 24h: $1.12M
Volatility (ann.): 97%

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

Performance

SQQQONCRCLON

7 days-0.20%-5.63%SQQQON
30 days-13.92%-15.88%SQQQON

Correlation

-0.52over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	SQQQON	CRCLON
Max drawdown (400d)	-17.0%	-30.7%
Risk-adjusted return (90d)	-0.30	0.06

Relative strength over 90 days: CRCLON outperformed SQQQON by 8.2% — measured on the SQQQON/CRCLON ratio, so it holds regardless of market direction.

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