Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 523.3× the size of Coinbase Global Inc ST0x (WTCOIN) by market capitalisation. Their daily returns move closely together (correlation 0.79 across 39 shared trading days). Both have run at a similar volatility, around 84% annualised.
$152.0100
$75.6500
WTCOINCRCLB
0.79over 39 shared trading days
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.
| Metric | WTCOIN | CRCLB |
|---|---|---|
| Max drawdown (400d) | -31.2% | -31.5% |
| Risk-adjusted return (90d) | -0.16 | 0.23 |
Relative strength over 90 days: WTCOIN outperformed CRCLB by 0.5% — measured on the WTCOIN/CRCLB ratio, so it holds regardless of market direction.