Bitgo xStock vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 4595.2× the size of Bitgo xStock (BTGOX) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.20 across 26 shared trading days). BTGOX has been the more volatile of the two, at 773% annualised against CRCLB's 82%.

Correlation: -0.20
Size ratio: 1 : 4595.2

Bitgo xStockBTGOX

$5.0700

24h: —
Market cap: $31,469
Volume 24h: —
Volatility (ann.): 773%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$66.5200

24h: -12.77%
Market cap: $144.61M
Volume 24h: $40.56M
Volatility (ann.): 82%

BTGOX 0.0%Share of the two combined market caps100.0% CRCLB

Performance

BTGOXCRCLB

7 days-8.36%-5.56%CRCLB
30 days-2.74%-9.22%BTGOX
90 days—+19.24%—

Correlation

-0.20over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2090d: 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	BTGOX	CRCLB
Max drawdown (400d)	-66.3%	-31.5%
Risk-adjusted return (90d)	0.00	0.23

Relative strength over 90 days: BTGOX outperformed CRCLB by 20.9% — measured on the BTGOX/CRCLB ratio, so it holds regardless of market direction.

Bitgo xStock →Circle Internet Group (bStocks Tokenized Stock) →