Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 8.2× the size of Intel xStock (INTCX) by market capitalisation. Their daily returns move barely together (correlation 0.25 across 38 shared trading days). INTCX has been the more volatile of the two, at 131% annualised against CRCLB's 82%.
$76.5400
INTCXCRCLB
0.25over 38 shared trading days
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.
| Metric | INTCX | CRCLB |
|---|---|---|
| Max drawdown (400d) | -50.4% | -31.5% |
| Risk-adjusted return (90d) | -0.23 | 0.25 |
Relative strength over 90 days: CRCLB outperformed INTCX by 14.6% — measured on the INTCX/CRCLB ratio, so it holds regardless of market direction.