Applied Digital • Robinhood Token vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 8568.3× the size of Applied Digital • Robinhood Token (APLD) by market capitalisation. Their daily returns move barely together (correlation 0.31 across 33 shared trading days). APLD has been the more volatile of the two, at 100% annualised against CRCLB's 82%.

Correlation: 0.31
Size ratio: 1 : 8568.3

Applied Digital • Robinhood TokenAPLD

$16.7200

24h: —
Market cap: $16,877
Volume 24h: $30
Volatility (ann.): 100%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$67.5300

24h: -12.77%
Market cap: $144.61M
Volume 24h: $40.56M
Volatility (ann.): 82%

APLD 0.0%Share of the two combined market caps100.0% CRCLB

Performance

APLDCRCLB

7 days-18.77%-5.56%CRCLB
30 days-39.33%-9.22%CRCLB
90 days—+19.24%—

Correlation

0.31over 33 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3090d: 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	APLD	CRCLB
Max drawdown (400d)	-39.3%	-31.5%
Risk-adjusted return (90d)	-0.36	0.23

Relative strength over 90 days: CRCLB outperformed APLD by 31.0% — measured on the APLD/CRCLB ratio, so it holds regardless of market direction.

Applied Digital • Robinhood Token →Circle Internet Group (bStocks Tokenized Stock) →