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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 172.5× the size of Eaton (Ondo Tokenized) (ETNON) by market capitalisation. Over the past 90 days, CRCLB is ahead by 19.4 percentage points (ETNON +1.8% against CRCLB +21.2%). Their daily returns move barely together (correlation 0.07 across 110 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against ETNON's 44%.

Correlation: 0.07
Size ratio: 1 : 172.5
Ahead over 90 days: CRCLB

Eaton (Ondo Tokenized)ETNON

$386.8800

24h: +4.49%
Market cap: $944,920
Volume 24h: $168,377
Volatility (ann.): 44%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$75.2100

24h: +5.67%
Market cap: $163.02M
Volume 24h: $23.11M
Volatility (ann.): 82%

ETNON 0.6%Share of the two combined market caps99.4% CRCLB

Performance

ETNONCRCLB

7 days-0.38%-7.34%ETNON
30 days+7.58%-10.38%ETNON
90 days+1.84%+21.21%CRCLB

Correlation

0.07over 110 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 0.171y: 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	ETNON	CRCLB
Max drawdown (400d)	-16.1%	-31.5%
Risk-adjusted return (90d)	0.04	0.25

Relative strength over 90 days: CRCLB outperformed ETNON by 24.7% — measured on the ETNON/CRCLB ratio, so it holds regardless of market direction.

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