Tesla xStock vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 1.3× the size of Tesla xStock (TSLAX) by market capitalisation. Over the past 30 days, TSLAX is ahead by 24.9 percentage points (TSLAX +8.3% against CRCLON -16.7%). Their daily returns move loosely together (correlation 0.38 across 54 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against TSLAX's 44%.

Correlation: 0.38
Size ratio: 1 : 1.3
Ahead over 30 days: TSLAX

Tesla xStockTSLAX

$378.6300

24h: -6.98%
Market cap: $69.25M
Volume 24h: $11.94M
Volatility (ann.): 44%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.9900

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

TSLAX 44.3%Share of the two combined market caps55.7% CRCLON

Performance

TSLAXCRCLON

7 days-2.29%-6.27%TSLAX
30 days+8.26%-16.67%TSLAX

Correlation

0.38over 54 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1190d: 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	TSLAX	CRCLON
Max drawdown (400d)	-7.2%	-30.7%
Risk-adjusted return (90d)	0.31	0.06

Relative strength over 90 days: TSLAX outperformed CRCLON by 17.5% — measured on the TSLAX/CRCLON ratio, so it holds regardless of market direction.

Tesla xStock →Circle Internet Group (Ondo Tokenized Stock) →