SK Hynix (Backpack Securities) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 26.5× the size of SK Hynix (Backpack Securities) (SKHY) by market capitalisation. Over the past 30 days, SKHY is ahead by 1.5 percentage points (SKHY -15.2% against CRCLON -16.7%). Their daily returns move barely together (correlation 0.12 across 29 shared trading days). Both have run at a similar volatility, around 100% annualised.

Correlation: 0.12
Size ratio: 1 : 26.5
Ahead over 30 days: SKHY

SK Hynix (Backpack Securities)SKHY

$145.4400

24h: -3.07%
Market cap: $3.37M
Volume 24h: $2.99M
Volatility (ann.): 102%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.5900

24h: +4.73%
Market cap: $89.29M
Volume 24h: $678,972
Volatility (ann.): 98%

SKHY 3.6%Share of the two combined market caps96.4% CRCLON

Performance

SKHYCRCLON

7 days-17.99%-6.27%CRCLON
30 days-15.17%-16.67%SKHY

Correlation

0.12over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1290d: 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	SKHY	CRCLON
Max drawdown (400d)	-27.6%	-30.7%
Risk-adjusted return (90d)	-0.08	0.06

Relative strength over 90 days: SKHY outperformed CRCLON by 13.1% — measured on the SKHY/CRCLON ratio, so it holds regardless of market direction.

SK Hynix (Backpack Securities) →Circle Internet Group (Ondo Tokenized Stock) →