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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 22.2× the size of Coinbase (Ondo Tokenized Stock) (COINON) by market capitalisation. Their daily returns move closely together (correlation 0.78 across 111 shared trading days). Both have run at a similar volatility, around 77% annualised.

Correlation: 0.78
Size ratio: 1 : 22.2

Coinbase (Ondo Tokenized Stock)COINON

$142.8200

24h: +3.44%
Market cap: $7.38M
Volume 24h: $1.33M
Volatility (ann.): 72%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$76.3900

24h: +5.17%
Market cap: $163.95M
Volume 24h: $23.61M
Volatility (ann.): 82%

COINON 4.3%Share of the two combined market caps95.7% CRCLB

Performance

COINONCRCLB

7 days-5.06%-7.34%COINON
30 days+7.21%-10.38%COINON
90 days+19.24%+21.21%CRCLB
1 year-45.23%——

Correlation

0.78over 111 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.9190d: 0.841y: 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	COINON	CRCLB
Max drawdown (400d)	-63.3%	-31.5%
Risk-adjusted return (90d)	0.26	0.25

Relative strength over 90 days: CRCLB outperformed COINON by 11.3% — measured on the COINON/CRCLB ratio, so it holds regardless of market direction.

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