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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 398.6× the size of AppLovin (Ondo Tokenized Stock) (APPON) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.44 across 30 shared trading days). APPON has been the more volatile of the two, at 302% annualised against CRCLB's 82%.

Correlation: -0.44
Size ratio: 1 : 398.6

AppLovin (Ondo Tokenized Stock)APPON

$239.4200

24h: +4.06%
Market cap: $400,519
Volume 24h: $104
Volatility (ann.): 302%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$73.8100

24h: +0.71%
Market cap: $159.66M
Volume 24h: $26.07M
Volatility (ann.): 82%

APPON 0.3%Share of the two combined market caps99.7% CRCLB

Performance

APPONCRCLB

7 days-26.21%-7.34%CRCLB
30 days-26.16%-10.38%CRCLB
90 days—+21.21%—

Correlation

-0.44over 30 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4490d: 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	APPON	CRCLB
Max drawdown (400d)	-51.9%	-31.5%
Risk-adjusted return (90d)	-0.09	0.25

Relative strength over 90 days: CRCLB outperformed APPON by 12.4% — measured on the APPON/CRCLB ratio, so it holds regardless of market direction.

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