Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 749.9× the size of Comcast xStock (CMCSAX) by market capitalisation. Their daily returns move barely together (correlation 0.17 across 113 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against CMCSAX's 47%.
$75.2800
CMCSAXCRCLB
0.17over 113 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 | CMCSAX | CRCLB |
|---|---|---|
| Max drawdown (400d) | -40.5% | -31.5% |
| Risk-adjusted return (90d) | -0.19 | 0.23 |
Relative strength over 90 days: CRCLB outperformed CMCSAX by 20.5% — measured on the CMCSAX/CRCLB ratio, so it holds regardless of market direction.