Fortinet, Inc. • Robinhood Token vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 37091.4× the size of Fortinet, Inc. • Robinhood Token (FTNT) by market capitalisation. Their daily returns move barely together (correlation 0.32 across 20 shared trading days). FTNT has been the more volatile of the two, at 115% annualised against CRCLB's 82%.

Correlation: 0.32
Size ratio: 1 : 37091.4

Fortinet, Inc. • Robinhood TokenFTNT

$127.2200

24h: —
Market cap: $3,899
Volume 24h: $125
Volatility (ann.): 115%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$66.5200

24h: -12.77%
Market cap: $144.61M
Volume 24h: $40.56M
Volatility (ann.): 82%

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

Performance

FTNTCRCLB

7 days-26.26%-5.56%CRCLB
30 days—-9.22%—
90 days—+19.24%—

Correlation

0.32over 20 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	FTNT	CRCLB
Max drawdown (400d)	-32.4%	-31.5%
Risk-adjusted return (90d)	—	0.23

Relative strength over 90 days: CRCLB outperformed FTNT by 19.0% — measured on the FTNT/CRCLB ratio, so it holds regardless of market direction.

Fortinet, Inc. • Robinhood Token →Circle Internet Group (bStocks Tokenized Stock) →