Shopify (Ondo Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 122.7× the size of Shopify (Ondo Tokenized Stock) (SHOPON) by market capitalisation. Their daily returns move loosely together (correlation 0.54 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against SHOPON's 61%.

Correlation: 0.54
Size ratio: 1 : 122.7

Shopify (Ondo Tokenized Stock)SHOPON

$138.3500

24h: -11.73%
Market cap: $707,608
Volume 24h: $1.19M
Volatility (ann.): 61%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.7900

24h: +1.32%
Market cap: $86.85M
Volume 24h: $1.01M
Volatility (ann.): 98%

SHOPON 0.8%Share of the two combined market caps99.2% CRCLON

Performance

SHOPONCRCLON

7 days+0.96%-6.27%SHOPON
30 days-8.32%-16.67%SHOPON
90 days+23.53%——
1 year-6.07%——

Correlation

0.54over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5690d: 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	SHOPON	CRCLON
Max drawdown (400d)	-46.3%	-30.7%
Risk-adjusted return (90d)	0.37	0.06

Relative strength over 90 days: CRCLON outperformed SHOPON by 19.6% — measured on the SHOPON/CRCLON ratio, so it holds regardless of market direction.

Shopify (Ondo Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →