Hut 8 (Ondo Tokenized) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 1005.8× the size of Hut 8 (Ondo Tokenized) (HUTON) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 26 shared trading days). Both have run at a similar volatility, around 85% annualised.

Correlation: 0.36
Size ratio: 1 : 1005.8

Hut 8 (Ondo Tokenized)HUTON

$48.6100

24h: -21.30%
Market cap: $159,461
Volume 24h: $9,590
Volatility (ann.): 87%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$75.2800

24h: +0.21%
Market cap: $160.38M
Volume 24h: $41.80M
Volatility (ann.): 82%

HUTON 0.1%Share of the two combined market caps99.9% CRCLB

Performance

HUTONCRCLB

7 days-7.73%-5.56%CRCLB
30 days+1.82%-9.22%HUTON
90 days—+19.24%—

Correlation

0.36over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3690d: 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	HUTON	CRCLB
Max drawdown (400d)	-18.6%	-31.5%
Risk-adjusted return (90d)	0.02	0.23

Relative strength over 90 days: HUTON outperformed CRCLB by 26.6% — measured on the HUTON/CRCLB ratio, so it holds regardless of market direction.

Hut 8 (Ondo Tokenized) →Circle Internet Group (bStocks Tokenized Stock) →