Applied Digital (Ondo Tokenized) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 851.7× the size of Applied Digital (Ondo Tokenized) (APLDON) by market capitalisation. Their daily returns move loosely together (correlation 0.38 across 54 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against APLDON's 68%.

Correlation: 0.38
Size ratio: 1 : 851.7

Applied Digital (Ondo Tokenized)APLDON

$16.4600

24h: -4.11%
Market cap: $173,324
Volume 24h: $152,668
Volatility (ann.): 68%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$69.7200

24h: -5.90%
Market cap: $147.61M
Volume 24h: $34.76M
Volatility (ann.): 82%

APLDON 0.1%Share of the two combined market caps99.9% CRCLB

Performance

APLDONCRCLB

7 days-10.06%-5.56%CRCLB
30 days+0.86%-9.22%APLDON
90 days—+19.24%—

Correlation

0.38over 54 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3690d: 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	APLDON	CRCLB
Max drawdown (400d)	-24.8%	-31.5%
Risk-adjusted return (90d)	-0.17	0.23

Relative strength over 90 days: CRCLB outperformed APLDON by 34.1% — measured on the APLDON/CRCLB ratio, so it holds regardless of market direction.

Applied Digital (Ondo Tokenized) →Circle Internet Group (bStocks Tokenized Stock) →