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

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 30.8× the size of Microsoft (bStocks Tokenized Stock) (MSFTB) by market capitalisation. Their daily returns move barely together (correlation 0.29 across 56 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against MSFTB's 29%.

Correlation: 0.29
Size ratio: 1 : 30.8

Microsoft (bStocks Tokenized Stock)MSFTB

$552.4800

24h: +0.20%
Market cap: $2.87M
Volume 24h: $100,123
Volatility (ann.): 29%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.0000

24h: -1.28%
Market cap: $88.30M
Volume 24h: $1.54M
Volatility (ann.): 98%

MSFTB 3.1%Share of the two combined market caps96.9% CRCLON

Performance

MSFTBCRCLON

7 days-2.88%-6.27%MSFTB
30 days-0.07%-16.67%MSFTB
90 days+6.46%——

Correlation

0.29over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3090d: 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	MSFTB	CRCLON
Max drawdown (400d)	-6.7%	-30.7%
Risk-adjusted return (90d)	0.27	0.06

Relative strength over 90 days: MSFTB outperformed CRCLON by 1.8% — measured on the MSFTB/CRCLON ratio, so it holds regardless of market direction.

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