Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 1.8× the size of ShareX (SHARE) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.00 across 45 shared trading days). SHARE has been the more volatile of the two, at 635% annualised against CRCLON's 98%.
$75.0000
SHARECRCLON
-0.00over 45 shared trading days
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.
| Metric | SHARE | CRCLON |
|---|---|---|
| Max drawdown (400d) | -12.6% | -30.7% |
| Risk-adjusted return (90d) | 1.74 | 0.06 |
Relative strength over 90 days: SHARE outperformed CRCLON by 653.5% — measured on the SHARE/CRCLON ratio, so it holds regardless of market direction.