Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 23.6× the size of Broadcom xStock (AVGOX) by market capitalisation. Their daily returns move barely together (correlation 0.17 across 111 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against AVGOX's 51%.
$76.5400
AVGOXCRCLB
0.17over 111 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 | AVGOX | CRCLB |
|---|---|---|
| Max drawdown (400d) | -31.0% | -31.5% |
| Risk-adjusted return (90d) | -0.14 | 0.25 |
Relative strength over 90 days: CRCLB outperformed AVGOX by 29.6% — measured on the AVGOX/CRCLB ratio, so it holds regardless of market direction.