Roundhill Memory ETF (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 42.9× the size of Roundhill Memory ETF (Ondo Tokenized) (DRAMON) by market capitalisation. Their daily returns move barely together (correlation 0.27 across 42 shared trading days). Both have run at a similar volatility, around 98% annualised.

Correlation: 0.27
Size ratio: 1 : 42.9

Roundhill Memory ETF (Ondo Tokenized)DRAMON

$46.4200

24h: -2.00%
Market cap: $2.10M
Volume 24h: $228,570
Volatility (ann.): 98%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.2900

24h: +5.63%
Market cap: $90.09M
Volume 24h: $688,946
Volatility (ann.): 98%

DRAMON 2.3%Share of the two combined market caps97.7% CRCLON

Performance

DRAMONCRCLON

7 days-20.14%-6.27%CRCLON
30 days-20.10%-16.67%CRCLON
90 days-23.66%——

Correlation

0.27over 42 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2890d: 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	DRAMON	CRCLON
Max drawdown (400d)	-31.6%	-30.7%
Risk-adjusted return (90d)	-0.24	0.06

Relative strength over 90 days: CRCLON outperformed DRAMON by 17.2% — measured on the DRAMON/CRCLON ratio, so it holds regardless of market direction.

Roundhill Memory ETF (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →