Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 1303.3× the size of Bit Digital xStock (BTBTX) by market capitalisation. Their daily returns move loosely together (correlation 0.39 across 26 shared trading days). Both have run at a similar volatility, around 80% annualised.
$74.2600
BTBTXCRCLB
0.39over 26 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 | BTBTX | CRCLB |
|---|---|---|
| Max drawdown (400d) | -14.4% | -31.5% |
| Risk-adjusted return (90d) | -0.01 | 0.23 |
Relative strength over 90 days: BTBTX outperformed CRCLB by 22.6% — measured on the BTBTX/CRCLB ratio, so it holds regardless of market direction.