Novo Nordisk Tokenized Stock (Reality) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 533.7× the size of Novo Nordisk Tokenized Stock (Reality) (RNVO) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.05 across 25 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against RNVO's 39%.

Correlation: -0.05
Size ratio: 1 : 533.7

Novo Nordisk Tokenized Stock (Reality)RNVO

$41.9400

24h: +5.07%
Market cap: $300,214
Volume 24h: $26,688
Volatility (ann.): 39%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$75.2400

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

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

Performance

RNVOCRCLB

7 days+2.20%-5.56%RNVO
30 days-10.26%-9.22%CRCLB
90 days—+19.24%—

Correlation

-0.05over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0590d: 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	RNVO	CRCLB
Max drawdown (400d)	-13.8%	-31.5%
Risk-adjusted return (90d)	-0.26	0.23

Relative strength over 90 days: CRCLB outperformed RNVO by 10.3% — measured on the RNVO/CRCLB ratio, so it holds regardless of market direction.

Novo Nordisk Tokenized Stock (Reality) →Circle Internet Group (bStocks Tokenized Stock) →