NIKE (Backpack Securities) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 596.8× the size of NIKE (Backpack Securities) (NKE) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.28 across 32 shared trading days). Both have run at a similar volatility, around 81% annualised.

Correlation: -0.28
Size ratio: 1 : 596.8

NIKE (Backpack Securities)NKE

$40.4000

24h: +5.76%
Market cap: $271,905
Volume 24h: $49,745
Volatility (ann.): 81%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$76.2000

24h: +3.14%
Market cap: $162.27M
Volume 24h: $43.93M
Volatility (ann.): 82%

NKE 0.2%Share of the two combined market caps99.8% CRCLB

Performance

NKECRCLB

7 days+24.38%-5.56%NKE
30 days+8.06%-9.22%NKE
90 days—+19.24%—

Correlation

-0.28over 32 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2990d: 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	NKE	CRCLB
Max drawdown (400d)	-15.7%	-31.5%
Risk-adjusted return (90d)	0.08	0.23

Relative strength over 90 days: NKE outperformed CRCLB by 33.0% — measured on the NKE/CRCLB ratio, so it holds regardless of market direction.

NIKE (Backpack Securities) →Circle Internet Group (bStocks Tokenized Stock) →