Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 3.3× the size of NVIDIA xStock (NVDAX) by market capitalisation. Their daily returns move loosely together (correlation 0.42 across 52 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against NVDAX's 44%.
$75.2100
NVDAXCRCLB
0.42over 52 shared trading days
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.
| Metric | NVDAX | CRCLB |
|---|---|---|
| Max drawdown (400d) | -12.1% | -31.5% |
| Risk-adjusted return (90d) | -0.07 | 0.25 |
Relative strength over 90 days: NVDAX outperformed CRCLB by 12.9% — measured on the NVDAX/CRCLB ratio, so it holds regardless of market direction.