Lumentum Holdings (bStocks Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 80.2× the size of Lumentum Holdings (bStocks Tokenized Stock) (LITEB) by market capitalisation. Their daily returns move barely together (correlation 0.06 across 56 shared trading days). Both have run at a similar volatility, around 103% annualised.

Correlation: 0.06
Size ratio: 1 : 80.2

Lumentum Holdings (bStocks Tokenized Stock)LITEB

$646.6300

24h: -0.40%
Market cap: $1.08M
Volume 24h: $1.24M
Volatility (ann.): 108%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.7900

24h: +1.32%
Market cap: $86.85M
Volume 24h: $1.01M
Volatility (ann.): 98%

LITEB 1.2%Share of the two combined market caps98.8% CRCLON

Performance

LITEBCRCLON

7 days-21.78%-6.27%CRCLON
30 days-37.75%-16.67%CRCLON
90 days-17.13%——

Correlation

0.06over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1090d: 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	LITEB	CRCLON
Max drawdown (400d)	-39.9%	-30.7%
Risk-adjusted return (90d)	-0.17	0.06

Relative strength over 90 days: CRCLON outperformed LITEB by 25.3% — measured on the LITEB/CRCLON ratio, so it holds regardless of market direction.

Lumentum Holdings (bStocks Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →