Palatin Technologies, Inc. Common Stock (Backpack Securities) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 1864.6× the size of Palatin Technologies, Inc. Common Stock (Backpack Securities) (PTN) by market capitalisation. Their daily returns move barely together (correlation 0.17 across 21 shared trading days). PTN has been the more volatile of the two, at 142% annualised against CRCLB's 83%.

Correlation: 0.17
Size ratio: 1 : 1864.6

Palatin Technologies, Inc. Common Stock (Backpack Securities)PTN

$5.4600

24h: -11.51%
Market cap: $79,222
Volume 24h: $40,077
Volatility (ann.): 142%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$67.1500

24h: -3.04%
Market cap: $147.71M
Volume 24h: $29.46M
Volatility (ann.): 83%

PTN 0.1%Share of the two combined market caps99.9% CRCLB

Performance

PTNCRCLB

7 days+7.65%-10.02%PTN
30 days—-18.89%—
90 days—+1.70%—

Correlation

0.17over 21 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	PTN	CRCLB
Max drawdown (400d)	-47.4%	-35.4%
Risk-adjusted return (90d)	-0.28	0.02

Relative strength over 90 days: CRCLB outperformed PTN by 27.8% — measured on the PTN/CRCLB ratio, so it holds regardless of market direction.

Palatin Technologies, Inc. Common Stock (Backpack Securities) →Circle Internet Group (bStocks Tokenized Stock) →