Backed Coinbase Global vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 25.6× the size of Backed Coinbase Global (BCOIN) by market capitalisation. Their daily returns move barely together (correlation 0.16 across 31 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against BCOIN's 67%.

Correlation: 0.16
Size ratio: 1 : 25.6

Backed Coinbase GlobalBCOIN

$137.9000

24h: -3.85%
Market cap: $6.39M
Volume 24h: —
Volatility (ann.): 67%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$77.1100

24h: +1.98%
Market cap: $163.90M
Volume 24h: $34.97M
Volatility (ann.): 82%

BCOIN 3.8%Share of the two combined market caps96.2% CRCLB

Performance

BCOINCRCLB

7 days+1.71%-7.34%BCOIN
30 days+6.60%-10.38%BCOIN
90 days—+21.21%—

Correlation

0.16over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1690d: 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	BCOIN	CRCLB
Max drawdown (400d)	-11.4%	-31.5%
Risk-adjusted return (90d)	0.10	0.25

Relative strength over 90 days: BCOIN outperformed CRCLB by 9.6% — measured on the BCOIN/CRCLB ratio, so it holds regardless of market direction.

Backed Coinbase Global →Circle Internet Group (bStocks Tokenized Stock) →