Ciena (Ondo Tokenized) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 330.7× the size of Ciena (Ondo Tokenized) (CIENON) by market capitalisation. Over the past 90 days, CRCLB is ahead by 39.7 percentage points (CIENON -20.4% against CRCLB +19.2%). Their daily returns move barely together (correlation 0.08 across 83 shared trading days). Both have run at a similar volatility, around 83% annualised.

Correlation: 0.08
Size ratio: 1 : 330.7
Ahead over 90 days: CRCLB

Ciena (Ondo Tokenized)CIENON

$268.1000

24h: -7.85%
Market cap: $484,514
Volume 24h: $154,728
Volatility (ann.): 83%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$75.2500

24h: +0.56%
Market cap: $160.24M
Volume 24h: $41.83M
Volatility (ann.): 82%

CIENON 0.3%Share of the two combined market caps99.7% CRCLB

Performance

CIENONCRCLB

7 days-6.48%-5.56%CRCLB
30 days-8.32%-9.22%CIENON
90 days-20.42%+19.24%CRCLB

Correlation

0.08over 83 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4390d: 0.081y: 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	CIENON	CRCLB
Max drawdown (400d)	-32.0%	-31.5%
Risk-adjusted return (90d)	-0.24	0.23

Relative strength over 90 days: CRCLB outperformed CIENON by 40.6% — measured on the CIENON/CRCLB ratio, so it holds regardless of market direction.

Ciena (Ondo Tokenized) →Circle Internet Group (bStocks Tokenized Stock) →