Sandisk (Backpack Securities) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 50.7× the size of Sandisk (Backpack Securities) (SNDK) by market capitalisation. Over the past 30 days, CRCLON is ahead by 19.1 percentage points (SNDK -35.8% against CRCLON -16.7%). Their daily returns move loosely together (correlation 0.42 across 32 shared trading days). SNDK has been the more volatile of the two, at 116% annualised against CRCLON's 98%.

Correlation: 0.42
Size ratio: 1 : 50.7
Ahead over 30 days: CRCLON

Sandisk (Backpack Securities)SNDK

$1,091.31

24h: -0.38%
Market cap: $1.70M
Volume 24h: $683,174
Volatility (ann.): 116%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.2400

24h: +0.61%
Market cap: $86.22M
Volume 24h: $993,994
Volatility (ann.): 98%

SNDK 1.9%Share of the two combined market caps98.1% CRCLON

Performance

SNDKCRCLON

7 days-13.87%-6.27%CRCLON
30 days-35.78%-16.67%CRCLON

Correlation

0.42over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3990d: 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	SNDK	CRCLON
Max drawdown (400d)	-42.6%	-30.7%
Risk-adjusted return (90d)	-0.22	0.06

Relative strength over 90 days: CRCLON outperformed SNDK by 12.1% — measured on the SNDK/CRCLON ratio, so it holds regardless of market direction.

Sandisk (Backpack Securities) →Circle Internet Group (Ondo Tokenized Stock) →