Hyperliquid Strategies Tokenized Stock (Reality) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 2697.5× the size of Hyperliquid Strategies Tokenized Stock (Reality) (RPURR) by market capitalisation. Their daily returns move loosely together (correlation 0.58 across 25 shared trading days). Both have run at a similar volatility, around 86% annualised.

Correlation: 0.58
Size ratio: 1 : 2697.5

Hyperliquid Strategies Tokenized Stock (Reality)RPURR

$9.7800

24h: -0.37%
Market cap: $55,845
Volume 24h: $29,019
Volatility (ann.): 91%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$69.3300

24h: -10.57%
Market cap: $150.64M
Volume 24h: $41.90M
Volatility (ann.): 82%

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

Performance

RPURRCRCLB

7 days-6.40%-5.56%CRCLB
30 days-0.45%-9.22%RPURR
90 days—+19.24%—

Correlation

0.58over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5890d: 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	RPURR	CRCLB
Max drawdown (400d)	-21.3%	-31.5%
Risk-adjusted return (90d)	0.00	0.23

Relative strength over 90 days: CRCLB outperformed RPURR by 1.7% — measured on the RPURR/CRCLB ratio, so it holds regardless of market direction.

Hyperliquid Strategies Tokenized Stock (Reality) →Circle Internet Group (bStocks Tokenized Stock) →