Tesla (Coinbase Tokenized Stocks) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 41.7× the size of Tesla (Coinbase Tokenized Stocks) (TSLAC) by market capitalisation. Over the past 30 days, TSLAC is ahead by 20.4 percentage points (TSLAC +4.5% against CRCLON -15.9%). Their daily returns move barely in opposite directions (correlation -0.22 across 20 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against TSLAC's 40%.

Correlation: -0.22
Size ratio: 1 : 41.7
Ahead over 30 days: TSLAC

Tesla (Coinbase Tokenized Stocks)TSLAC

$386.9400

24h: -4.29%
Market cap: $2.13M
Volume 24h: $7.76M
Volatility (ann.): 40%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.5400

24h: +1.93%
Market cap: $88.92M
Volume 24h: $1.64M
Volatility (ann.): 97%

TSLAC 2.3%Share of the two combined market caps97.7% CRCLON

Performance

TSLACCRCLON

7 days-3.20%-5.63%TSLAC
30 days+4.54%-15.88%TSLAC

Correlation

-0.22over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	TSLAC	CRCLON
Max drawdown (400d)	-9.3%	-30.7%
Risk-adjusted return (90d)	0.21	0.06

Relative strength over 90 days: TSLAC outperformed CRCLON by 6.3% — measured on the TSLAC/CRCLON ratio, so it holds regardless of market direction.

Tesla (Coinbase Tokenized Stocks) →Circle Internet Group (Ondo Tokenized Stock) →