MicroStrategy xStock vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 1.2× the size of MicroStrategy xStock (MSTRX) by market capitalisation. Their daily returns move closely together (correlation 0.61 across 56 shared trading days). MSTRX has been the more volatile of the two, at 101% annualised against CRCLB's 82%.

Correlation: 0.61
Size ratio: 1 : 1.2

MicroStrategy xStockMSTRX

$143.2400

24h: +5.94%
Market cap: $138.30M
Volume 24h: $3.75M
Volatility (ann.): 101%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$75.2500

24h: +0.56%
Market cap: $160.24M
Volume 24h: $41.83M
Volatility (ann.): 82%

MSTRX 46.3%Share of the two combined market caps53.7% CRCLB

Performance

MSTRXCRCLB

7 days+0.26%-5.56%MSTRX
30 days+10.88%-9.22%MSTRX
90 days—+19.24%—

Correlation

0.61over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3790d: 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	MSTRX	CRCLB
Max drawdown (400d)	-18.3%	-31.5%
Risk-adjusted return (90d)	0.38	0.23

Relative strength over 90 days: MSTRX outperformed CRCLB by 46.8% — measured on the MSTRX/CRCLB ratio, so it holds regardless of market direction.

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