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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 5.4× the size of Coinbase (bStocks Tokenized Stock) (COINB) by market capitalisation. Their daily returns move very closely together (correlation 0.89 across 56 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against COINB's 70%.

Correlation: 0.89
Size ratio: 1 : 5.4

Coinbase (bStocks Tokenized Stock)COINB

$143.5300

24h: +0.20%
Market cap: $16.13M
Volume 24h: $551,715
Volatility (ann.): 70%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.7900

24h: +1.32%
Market cap: $86.85M
Volume 24h: $1.01M
Volatility (ann.): 98%

COINB 15.7%Share of the two combined market caps84.3% CRCLON

Performance

COINBCRCLON

7 days-8.58%-6.27%CRCLON
30 days-22.31%-16.67%CRCLON
90 days-3.24%——

Correlation

0.89over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8890d: 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	COINB	CRCLON
Max drawdown (400d)	-32.0%	-30.7%
Risk-adjusted return (90d)	-0.04	0.06

Relative strength over 90 days: CRCLON outperformed COINB by 6.6% — measured on the COINB/CRCLON ratio, so it holds regardless of market direction.

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