SPDR S&P 500 ETF (Ondo Tokenized ETF) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 1.9× the size of SPDR S&P 500 ETF (Ondo Tokenized ETF) (SPYON) by market capitalisation. Over the past 30 days, SPYON is ahead by 16.7 percentage points (SPYON +0.8% against CRCLON -15.9%). Their daily returns move loosely together (correlation 0.56 across 51 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against SPYON's 10%.

Correlation: 0.56
Size ratio: 1 : 1.9
Ahead over 30 days: SPYON

SPDR S&P 500 ETF (Ondo Tokenized ETF)SPYON

$771.3400

24h: +1.79%
Market cap: $47.29M
Volume 24h: $1.62M
Volatility (ann.): 10%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.2100

24h: +1.02%
Market cap: $88.55M
Volume 24h: $1.61M
Volatility (ann.): 97%

SPYON 34.8%Share of the two combined market caps65.2% CRCLON

Performance

SPYONCRCLON

7 days-0.31%-5.63%SPYON
30 days+0.82%-15.88%SPYON

Correlation

0.56over 51 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	SPYON	CRCLON
Max drawdown (400d)	-2.5%	-30.7%
Risk-adjusted return (90d)	0.02	0.06

Relative strength over 90 days: SPYON outperformed CRCLON by 16.1% — measured on the SPYON/CRCLON ratio, so it holds regardless of market direction.

SPDR S&P 500 ETF (Ondo Tokenized ETF) →Circle Internet Group (Ondo Tokenized Stock) →