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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 25.1× the size of Coherent (bStocks Tokenized Stock) (COHRB) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 56 shared trading days). Both have run at a similar volatility, around 97% annualised.

Correlation: 0.07
Size ratio: 1 : 25.1

Coherent (bStocks Tokenized Stock)COHRB

$192.1700

24h: -0.22%
Market cap: $3.61M
Volume 24h: $426,701
Volatility (ann.): 96%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.9100

24h: +1.37%
Market cap: $90.55M
Volume 24h: $1.69M
Volatility (ann.): 98%

COHRB 3.8%Share of the two combined market caps96.2% CRCLON

Performance

COHRBCRCLON

7 days-10.16%-6.27%CRCLON
30 days-37.29%-16.67%CRCLON
90 days-34.33%——

Correlation

0.07over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 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	COHRB	CRCLON
Max drawdown (400d)	-47.9%	-30.7%
Risk-adjusted return (90d)	-0.36	0.06

Relative strength over 90 days: CRCLON outperformed COHRB by 33.3% — measured on the COHRB/CRCLON ratio, so it holds regardless of market direction.

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