Linde plc (Ondo Tokenized Stock) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 93.8× the size of Linde plc (Ondo Tokenized Stock) (LINON) by market capitalisation. Their daily returns move barely together (correlation 0.14 across 28 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against LINON's 59%.

Correlation: 0.14
Size ratio: 1 : 93.8

Linde plc (Ondo Tokenized Stock)LINON

$523.8200

24h: -1.92%
Market cap: $1.70M
Volume 24h: $46
Volatility (ann.): 59%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$74.2100

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

LINON 1.1%Share of the two combined market caps98.9% CRCLB

Performance

LINONCRCLB

7 days+2.61%-7.34%LINON
30 days-3.07%-10.38%LINON
90 days—+21.21%—

Correlation

0.14over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 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	LINON	CRCLB
Max drawdown (400d)	-14.4%	-31.5%
Risk-adjusted return (90d)	-0.05	0.25

Relative strength over 90 days: LINON outperformed CRCLB by 12.5% — measured on the LINON/CRCLB ratio, so it holds regardless of market direction.

Linde plc (Ondo Tokenized Stock) →Circle Internet Group (bStocks Tokenized Stock) →