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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 7.4× the size of MicroStrategy (Ondo Tokenized Stock) (MSTRON) by market capitalisation. Their daily returns move very closely together (correlation 0.87 across 34 shared trading days). MSTRON has been the more volatile of the two, at 104% annualised against CRCLB's 82%.

Correlation: 0.87
Size ratio: 1 : 7.4

MicroStrategy (Ondo Tokenized Stock)MSTRON

$132.5300

24h: +0.41%
Market cap: $22.01M
Volume 24h: $1.22M
Volatility (ann.): 104%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$76.3900

24h: +5.17%
Market cap: $163.95M
Volume 24h: $23.61M
Volatility (ann.): 82%

MSTRON 11.8%Share of the two combined market caps88.2% CRCLB

Performance

MSTRONCRCLB

7 days-13.56%-7.34%CRCLB
30 days+10.32%-10.38%MSTRON
90 days—+21.21%—

Correlation

0.87over 34 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8690d: 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	MSTRON	CRCLB
Max drawdown (400d)	-13.8%	-31.5%
Risk-adjusted return (90d)	0.05	0.25

Relative strength over 90 days: MSTRON outperformed CRCLB by 24.3% — measured on the MSTRON/CRCLB ratio, so it holds regardless of market direction.

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