Cipher Mining (Ondo Tokenized Stock) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 993.6× the size of Cipher Mining (Ondo Tokenized Stock) (CIFRON) by market capitalisation. Their daily returns move barely together (correlation 0.22 across 28 shared trading days). Both have run at a similar volatility, around 83% annualised.

Correlation: 0.22
Size ratio: 1 : 993.6

Cipher Mining (Ondo Tokenized Stock)CIFRON

$6.5200

24h: -17.61%
Market cap: $162,439
Volume 24h: $4,581
Volatility (ann.): 84%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$75.6500

24h: +0.27%
Market cap: $161.41M
Volume 24h: $37.31M
Volatility (ann.): 82%

CIFRON 0.1%Share of the two combined market caps99.9% CRCLB

Performance

CIFRONCRCLB

7 days-5.56%-5.56%CIFRON
30 days-8.72%-9.22%CIFRON
90 days—+19.24%—

Correlation

0.22over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2290d: 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	CIFRON	CRCLB
Max drawdown (400d)	-18.5%	-31.5%
Risk-adjusted return (90d)	-0.10	0.23

Relative strength over 90 days: CIFRON outperformed CRCLB by 23.1% — measured on the CIFRON/CRCLB ratio, so it holds regardless of market direction.

Cipher Mining (Ondo Tokenized Stock) →Circle Internet Group (bStocks Tokenized Stock) →