Taiwan Semiconductor Manufacturing (Ondo Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 15.5× the size of Taiwan Semiconductor Manufacturing (Ondo Tokenized Stock) (TSMON) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against TSMON's 43%.

Correlation: 0.23
Size ratio: 1 : 15.5

Taiwan Semiconductor Manufacturing (Ondo Tokenized Stock)TSMON

$403.7100

24h: -1.08%
Market cap: $5.83M
Volume 24h: $846,515
Volatility (ann.): 43%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.9500

24h: +3.62%
Market cap: $90.50M
Volume 24h: $1.47M
Volatility (ann.): 98%

TSMON 6.1%Share of the two combined market caps93.9% CRCLON

Performance

TSMONCRCLON

7 days+0.66%-6.27%TSMON
30 days+7.31%-16.67%TSMON
90 days-5.24%——
1 year+56.82%——

Correlation

0.23over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2490d: 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	TSMON	CRCLON
Max drawdown (400d)	-21.5%	-30.7%
Risk-adjusted return (90d)	-0.13	0.06

Relative strength over 90 days: CRCLON outperformed TSMON by 8.7% — measured on the TSMON/CRCLON ratio, so it holds regardless of market direction.

Taiwan Semiconductor Manufacturing (Ondo Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →