SPDR Gold Shares (Ondo Tokenized) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 24.3× the size of SPDR Gold Shares (Ondo Tokenized) (GLDON) by market capitalisation. Their daily returns move loosely together (correlation 0.41 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against GLDON's 30%.

Correlation: 0.41
Size ratio: 1 : 24.3

SPDR Gold Shares (Ondo Tokenized)GLDON

$362.8400

24h: +0.62%
Market cap: $3.59M
Volume 24h: $1.23M
Volatility (ann.): 30%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.9900

24h: +1.19%
Market cap: $87.11M
Volume 24h: $1.01M
Volatility (ann.): 98%

GLDON 4.0%Share of the two combined market caps96.0% CRCLON

Performance

GLDONCRCLON

7 days-4.83%-6.27%GLDON
30 days-6.81%-16.67%GLDON
90 days+3.45%——

Correlation

0.41over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2990d: 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	GLDON	CRCLON
Max drawdown (400d)	-25.3%	-30.7%
Risk-adjusted return (90d)	0.13	0.06

Relative strength over 90 days: CRCLON outperformed GLDON by 19.7% — measured on the GLDON/CRCLON ratio, so it holds regardless of market direction.

SPDR Gold Shares (Ondo Tokenized) →Circle Internet Group (Ondo Tokenized Stock) →