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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 316.5× the size of Novo Nordisk xStock (NVOX) by market capitalisation. Their daily returns move barely together (correlation 0.09 across 35 shared trading days). NVOX has been the more volatile of the two, at 117% annualised against CRCLB's 82%.

Correlation: 0.09
Size ratio: 1 : 316.5

Novo Nordisk xStockNVOX

$40.1000

24h: -1.20%
Market cap: $501,794
Volume 24h: $356
Volatility (ann.): 117%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$72.7700

24h: -1.14%
Market cap: $158.84M
Volume 24h: $29.40M
Volatility (ann.): 82%

NVOX 0.3%Share of the two combined market caps99.7% CRCLB

Performance

NVOXCRCLB

7 days+5.15%-7.34%NVOX
30 days-32.10%-10.38%CRCLB
90 days—+21.21%—

Correlation

0.09over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1190d: 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	NVOX	CRCLB
Max drawdown (400d)	-36.9%	-31.5%
Risk-adjusted return (90d)	-0.14	0.25

Relative strength over 90 days: NVOX outperformed CRCLB by 13.7% — measured on the NVOX/CRCLB ratio, so it holds regardless of market direction.

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