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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 76.4× the size of IREN (Ondo Tokenized Stock) (IRENON) by market capitalisation. Over the past 90 days, CRCLB is ahead by 66.2 percentage points (IRENON -45.0% against CRCLB +21.2%). Their daily returns move loosely together (correlation 0.37 across 118 shared trading days). IRENON has been the more volatile of the two, at 124% annualised against CRCLB's 82%.

Correlation: 0.37
Size ratio: 1 : 76.4
Ahead over 90 days: CRCLB

IREN (Ondo Tokenized Stock)IRENON

$23.2200

24h: +2.83%
Market cap: $2.09M
Volume 24h: $1.13M
Volatility (ann.): 124%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$73.8100

24h: +0.71%
Market cap: $159.66M
Volume 24h: $26.07M
Volatility (ann.): 82%

IRENON 1.3%Share of the two combined market caps98.7% CRCLB

Performance

IRENONCRCLB

7 days-11.69%-7.34%CRCLB
30 days-46.16%-10.38%CRCLB
90 days-44.98%+21.21%CRCLB

Correlation

0.37over 118 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3790d: 0.431y: 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	IRENON	CRCLB
Max drawdown (400d)	-65.2%	-31.5%
Risk-adjusted return (90d)	-0.33	0.25

Relative strength over 90 days: CRCLB outperformed IRENON by 53.1% — measured on the IRENON/CRCLB ratio, so it holds regardless of market direction.

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