Alphabet (bStocks Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Alphabet (bStocks Tokenized Stock) (GOOGLB) is 1.5× the size of Circle Internet Group (Ondo Tokenized Stock) (CRCLON) by market capitalisation. Their daily returns move barely together (correlation 0.18 across 56 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against GOOGLB's 35%.

Correlation: 0.18
Size ratio: 1.5×

Alphabet (bStocks Tokenized Stock)GOOGLB

$292.7600

24h: +4.67%
Market cap: $132.49M
Volume 24h: $29.34M
Volatility (ann.): 35%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.2000

24h: -1.20%
Market cap: $86.21M
Volume 24h: $1.14M
Volatility (ann.): 98%

GOOGLB 60.6%Share of the two combined market caps39.4% CRCLON

Performance

GOOGLBCRCLON

7 days-13.63%-6.27%CRCLON
30 days-18.80%-16.67%CRCLON
90 days-23.41%——

Correlation

0.18over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1990d: 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	GOOGLB	CRCLON
Max drawdown (400d)	-26.3%	-30.7%
Risk-adjusted return (90d)	-0.77	0.06

Relative strength over 90 days: CRCLON outperformed GOOGLB by 23.1% — measured on the GOOGLB/CRCLON ratio, so it holds regardless of market direction.

Alphabet (bStocks Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →