Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 31.6× the size of AMD xStock (AMDX) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 37 shared trading days). Both have run at a similar volatility, around 87% annualised.
$76.3900
AMDXCRCLB
0.08over 37 shared trading days
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.
| Metric | AMDX | CRCLB |
|---|---|---|
| Max drawdown (400d) | -25.6% | -31.5% |
| Risk-adjusted return (90d) | 0.01 | 0.25 |
Relative strength over 90 days: AMDX outperformed CRCLB by 22.0% — measured on the AMDX/CRCLB ratio, so it holds regardless of market direction.