Datadog • Robinhood Token vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 2021.2× the size of Datadog • Robinhood Token (DDOG) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.19 across 39 shared trading days). DDOG has been the more volatile of the two, at 96% annualised against CRCLB's 82%.

Correlation: -0.19
Size ratio: 1 : 2021.2

Datadog • Robinhood TokenDDOG

$188.2400

24h: -13.53%
Market cap: $78,525
Volume 24h: $71,683
Volatility (ann.): 96%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$73.9900

24h: +1.36%
Market cap: $158.71M
Volume 24h: $34.71M
Volatility (ann.): 82%

DDOG 0.0%Share of the two combined market caps100.0% CRCLB

Performance

DDOGCRCLB

7 days-32.56%-5.56%CRCLB
30 days-15.37%-9.22%CRCLB
90 days—+19.24%—

Correlation

-0.19over 39 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1390d: 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	DDOG	CRCLB
Max drawdown (400d)	-32.6%	-31.5%
Risk-adjusted return (90d)	-0.20	0.23

Relative strength over 90 days: CRCLB outperformed DDOG by 5.5% — measured on the DDOG/CRCLB ratio, so it holds regardless of market direction.

Datadog • Robinhood Token →Circle Internet Group (bStocks Tokenized Stock) →