UnitedHealth xStock vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 148.7× the size of UnitedHealth xStock (UNHX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.04 across 35 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against UNHX's 55%.

Correlation: -0.04
Size ratio: 1 : 148.7

UnitedHealth xStockUNHX

$405.0500

24h: +1.99%
Market cap: $603,995
Volume 24h: $56,172
Volatility (ann.): 55%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.1200

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

UNHX 0.7%Share of the two combined market caps99.3% CRCLON

Performance

UNHXCRCLON

7 days+0.97%-6.27%UNHX
30 days-5.13%-16.67%UNHX
90 days-12.31%——
1 year+9.98%——

Correlation

-0.04over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0090d: 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	UNHX	CRCLON
Max drawdown (400d)	-29.2%	-30.7%
Risk-adjusted return (90d)	-0.42	0.06

Relative strength over 90 days: CRCLON outperformed UNHX by 20.7% — measured on the UNHX/CRCLON ratio, so it holds regardless of market direction.

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