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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 25.7× the size of ASML (bStocks Tokenized Stock) (ASMLB) by market capitalisation. Their daily returns move barely together (correlation 0.15 across 57 shared trading days). CRCLON has been the more volatile of the two, at 97% annualised against ASMLB's 37%.

Correlation: 0.15
Size ratio: 1 : 25.7

ASML (bStocks Tokenized Stock)ASMLB

$1,463.45

24h: -0.26%
Market cap: $3.48M
Volume 24h: $94,610
Volatility (ann.): 37%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.9900

24h: +2.18%
Market cap: $89.50M
Volume 24h: $1.65M
Volatility (ann.): 97%

ASMLB 3.7%Share of the two combined market caps96.3% CRCLON

Performance

ASMLBCRCLON

7 days-8.97%-5.63%CRCLON
30 days-20.04%-15.88%CRCLON
90 days-13.10%——

Correlation

0.15over 57 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3290d: 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	ASMLB	CRCLON
Max drawdown (400d)	-20.8%	-30.7%
Risk-adjusted return (90d)	-0.36	0.06

Relative strength over 90 days: CRCLON outperformed ASMLB by 21.7% — measured on the ASMLB/CRCLON ratio, so it holds regardless of market direction.

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