Bending Spoons xStock (BSPX) and Circle Internet Group (bStocks Tokenized Stock) (CRCLB) compared side by side. Their daily returns move barely together (correlation 0.14 across 34 shared trading days). Both have run at a similar volatility, around 82% annualised.
$73.7000
BSPXCRCLB
0.14over 34 shared trading days
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.
| Metric | BSPX | CRCLB |
|---|---|---|
| Max drawdown (400d) | -29.6% | -31.5% |
| Risk-adjusted return (90d) | -0.20 | 0.25 |
Relative strength over 90 days: CRCLB outperformed BSPX by 30.0% — measured on the BSPX/CRCLB ratio, so it holds regardless of market direction.