Circle Internet Group (bStocks Tokenized Stock) vs MicroStrategy xStock

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 1.2× the size of MicroStrategy xStock (MSTRX) by market capitalisation. Their daily returns move closely together (correlation 0.61 across 56 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against CRCLB's 82%.

Correlation: 0.61
Size ratio: 1.2×

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$75.8800

24h: +1.89%
Market cap: $160.82M
Volume 24h: $43.73M
Volatility (ann.): 82%

MicroStrategy xStockMSTRX

$143.1100

24h: +7.57%
Market cap: $138.16M
Volume 24h: $4.18M
Volatility (ann.): 101%

CRCLB 53.8%Share of the two combined market caps46.2% MSTRX

Performance

CRCLBMSTRX

7 days-5.56%+0.26%MSTRX
30 days-9.22%+10.88%MSTRX
90 days+19.24%——

Correlation

0.61over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3790d: 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	CRCLB	MSTRX
Max drawdown (400d)	-31.5%	-18.3%
Risk-adjusted return (90d)	0.23	0.38

Relative strength over 90 days: MSTRX outperformed CRCLB by 31.9% — measured on the CRCLB/MSTRX ratio, so it holds regardless of market direction.

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