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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 678.4× the size of Cloudflare (Ondo Tokenized) (NETON) by market capitalisation. Their daily returns move barely together (correlation 0.19 across 68 shared trading days). Both have run at a similar volatility, around 77% annualised.

Correlation: 0.19
Size ratio: 1 : 678.4

Cloudflare (Ondo Tokenized)NETON

$262.8900

24h: -1.54%
Market cap: $208,359
Volume 24h: $163,878
Volatility (ann.): 72%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$66.2500

24h: -10.98%
Market cap: $141.35M
Volume 24h: $35.58M
Volatility (ann.): 82%

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

Performance

NETONCRCLB

7 days-1.48%-5.56%NETON
30 days+15.47%-9.22%NETON
90 days—+19.24%—

Correlation

0.19over 68 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2690d: 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	NETON	CRCLB
Max drawdown (400d)	-16.6%	-31.5%
Risk-adjusted return (90d)	0.46	0.23

Relative strength over 90 days: CRCLB outperformed NETON by 3.0% — measured on the NETON/CRCLB ratio, so it holds regardless of market direction.

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