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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 469.9× the size of Fabrinet (Ondo Tokenized) (FNON) by market capitalisation. Over the past 90 days, CRCLB is ahead by 29.3 percentage points (FNON -10.1% against CRCLB +19.2%). Their daily returns move barely together (correlation 0.15 across 75 shared trading days). Both have run at a similar volatility, around 82% annualised.

Correlation: 0.15
Size ratio: 1 : 469.9
Ahead over 90 days: CRCLB

Fabrinet (Ondo Tokenized)FNON

$334.3700

24h: -5.48%
Market cap: $314,120
Volume 24h: $142,272
Volatility (ann.): 83%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$69.7200

24h: -5.90%
Market cap: $147.61M
Volume 24h: $34.76M
Volatility (ann.): 82%

FNON 0.2%Share of the two combined market caps99.8% CRCLB

Performance

FNONCRCLB

7 days+1.92%-5.56%FNON
30 days-0.45%-9.22%FNON
90 days-10.10%+19.24%CRCLB

Correlation

0.15over 75 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0890d: 0.151y: 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	FNON	CRCLB
Max drawdown (400d)	-34.8%	-31.5%
Risk-adjusted return (90d)	-0.12	0.23

Relative strength over 90 days: CRCLB outperformed FNON by 36.5% — measured on the FNON/CRCLB ratio, so it holds regardless of market direction.

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