I'd just like to add that clonazepam's potency may not reveal itself as readily as alprazolam's potency, due to the fact that they are different not only in time till onset of action and duration of action, but also in the type of action they exert. Clonazepam does not hit quickly and thus often fails to give the subjective user a proper gauge of potency, because from baseline, one may take a dose of clonazepam and not feel their anxiety 'wiped away' or 'obliterated' like with the very swift-acting alprazolam. Alprazolam may, in fact, give a bit of a false impression of its true potency on this account, because from baseline, one may take a dose of alprazolam and have their anxiety almost magically disappear due to its rapid onset of action. Alprazolam's duration of action is shorter, which may cause rebound anxiety more than clonazepam, which if treated with another dose of alprazolam, will enforce the user's subjective sense of alprazolam's anxiolytic power and force. No doubt, when a sufficient dose of alprazolam is administered to someone with significant anxiety, the drug seems to be forceful, where it though it is a great anxiolytic, is simply rapid in effect thus causing such a subjective sensation. Clonazepam will produce just as solid anxiolysis, in most individuals, however it fails to seem forceful on account of it being relatively quite slow to take effect from time of administration. I might hypothesize that clonazepam is not as likely to cause rebound anxiety as alprazolam due to its longer duration of action. But, all of this is just dealing with time and how that causes a change in subjective 'anxiolytic force', if you will, and not so much efficacy. The efficacy of alprazolam and clonazepam in anxiolysis, basically speaking, is approximately the same, however I am not yet going into the potency of the two, compared against one another, when going over the matter which is more potent, mg for mg.
It must be realized that alprazolam and clonazepam have somewhat different profiles with respect to their effects. Based on personal experience with both drugs, and that which I have seen, heard, or read of in other users, I would say clonazepam is a bit more powerful in its muscle-relaxant effects, and perhaps, though I am not sure on this one myself, a bit more sedating. I should note that when I say sedating, I am making no comment as to the hypnotic properties of either, where I think because of the variation in types of insomnias, alprazolam may be quite superior to clonazepam for some, while for others clonazepam may be quite superior to alprazolam. I have been, personally, quite sedated by both clonazepam and alprazolam, and I am going off my experiences when I had very little or no benzodiazepine tolerance. When I say sedated, I mean tranquilized or made placid or calm or unaffected by external stimuli. However, of course alprazolam's sedation kicks in quick and lasts not all that long, whereas clonazepam's sedation takes up to an hour or a even a bit more to render its sedation. For purposes to relax myself, when I had no tolerance to benzodiazepines, I should say that clonazepam was much more pleasant, in part likely because it was strong but not seemingly forceful on account of any rapid onset of action. It, also, permitted deeper muscular relaxation as well as psychic relaxation, and lasted for a significantly longer period of time at the perceptible plateau. I would say that both alprazolam and clonazepam are seemingly equally effective in the prophylaxis of an anxiety attack or panic attack, however I would say this varies from one person to another, and that their equality in this respect is one of subjective report. Of course, alprazolam will not prevent panic for as long as clonazepam, unless it is re-dosed, which is viable in certain situations. Now, in aborting a panic attack, I am confident that alprazolam is much superior to clonazepam, on account of its rapid onset of action and resultant subjective forceful anxiolysis. Clonazepam, though, is still not uncommonly prescribed for this purpose, which makes no real sense to me, and I put it down to alprazolam-phobia, which I believe to be very real and fairly common amongst prescribers. Nevertheless, I cannot understand how clonazepam would be nearly as effective to abort a panic attack; by the time it would take hold and exert much any effect, the acute panic would have run its course.
And, still, even though both possess different qualities with respect to time till onset, duration of action, and individual profiles of action, all of which I can basically reason, there seems to be a larger disparity in the general nature of the two benzodiazepine agents. To describe this nature would be very challenging, for it would require not just simple facts and observations, but poetic license to describe each of them; and, maybe it is the case these distinct natures are only so distinct to me, on account of the innumerable variables involved in my history with these two wonderful benzodiazepines.
As for potency, it must be considered that when dosed chronically, 24-7, clonazepam will often accumulate and exert consequently seemingly greater effect, whereas alprazolam is a great challenge to be dosed chronically, 24-7, to maintain a static level of action without inter-dose 'drops' in action due to its very short duration of action and very short half-life. So, to try to put a number on potency, I will do so considering both the clonazepam and alprazolam are single doses administered to a group of people, and I will do so with respect to general sedative-hypnotic effect and not only anxiolytic effect, because the benzodiazepine is a multi-faceted agent. I would make the educated guess that a single dose of 0.5 mg alprazolam is equipotent, with respect to general sedative-hypnotic effect or general benzodiazepine effect, to around 0.3 mg to 0.4 mg clonazepam, with variance attributable to the difference in the individual users.