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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 68.3× the size of Taiwan Semiconductor Manufacturing • Robinhood Token (TSM) by market capitalisation. Over the past 30 days, TSM is ahead by 11.0 percentage points (TSM -5.6% against CRCLON -16.7%). Their daily returns move loosely together (correlation 0.46 across 28 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against TSM's 32%.

Correlation: 0.46
Size ratio: 1 : 68.3
Ahead over 30 days: TSM

Taiwan Semiconductor Manufacturing • Robinhood TokenTSM

$401.2900

24h: -1.04%
Market cap: $1.31M
Volume 24h: $926,332
Volatility (ann.): 32%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.1200

24h: +5.01%
Market cap: $89.79M
Volume 24h: $697,234
Volatility (ann.): 98%

TSM 1.4%Share of the two combined market caps98.6% CRCLON

Performance

TSMCRCLON

7 days-11.63%-6.27%CRCLON
30 days-5.65%-16.67%TSM

Correlation

0.46over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4690d: 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	TSM	CRCLON
Max drawdown (400d)	-11.7%	-30.7%
Risk-adjusted return (90d)	-0.09	0.06

Relative strength over 90 days: TSM outperformed CRCLON by 22.6% — measured on the TSM/CRCLON ratio, so it holds regardless of market direction.

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