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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 935.3× the size of Applied Digital Tokenized Stock (Reality) (RAPLD) by market capitalisation. Their daily returns move loosely together (correlation 0.50 across 25 shared trading days). Both have run at a similar volatility, around 77% annualised.

Correlation: 0.50
Size ratio: 1 : 935.3

Applied Digital Tokenized Stock (Reality)RAPLD

$16.4100

24h: -3.76%
Market cap: $173,498
Volume 24h: $39,438
Volatility (ann.): 72%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$76.2000

24h: +3.14%
Market cap: $162.27M
Volume 24h: $43.93M
Volatility (ann.): 82%

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

Performance

RAPLDCRCLB

7 days-7.57%-5.56%CRCLB
30 days+0.77%-9.22%RAPLD
90 days—+19.24%—

Correlation

0.50over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5090d: 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	RAPLD	CRCLB
Max drawdown (400d)	-17.4%	-31.5%
Risk-adjusted return (90d)	0.01	0.23

Relative strength over 90 days: CRCLB outperformed RAPLD by 0.5% — measured on the RAPLD/CRCLB ratio, so it holds regardless of market direction.

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