PDD Holdings (Ondo Tokenized) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 12.1× the size of PDD Holdings (Ondo Tokenized) (PDDON) by market capitalisation. Over the past 90 days, CRCLB is ahead by 17.6 percentage points (PDDON +1.6% against CRCLB +19.2%). Their daily returns move barely together (correlation 0.08 across 110 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against PDDON's 34%.

Correlation: 0.08
Size ratio: 1 : 12.1
Ahead over 90 days: CRCLB

PDD Holdings (Ondo Tokenized)PDDON

$83.2100

24h: +4.09%
Market cap: $11.97M
Volume 24h: $538,826
Volatility (ann.): 34%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$65.9200

24h: -10.18%
Market cap: $145.14M
Volume 24h: $34.28M
Volatility (ann.): 82%

PDDON 7.6%Share of the two combined market caps92.4% CRCLB

Performance

PDDONCRCLB

7 days-2.18%-5.56%PDDON
30 days-9.48%-9.22%CRCLB
90 days+1.65%+19.24%CRCLB

Correlation

0.08over 110 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1790d: -0.001y: 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	PDDON	CRCLB
Max drawdown (400d)	-31.1%	-31.5%
Risk-adjusted return (90d)	0.05	0.23

Relative strength over 90 days: CRCLB outperformed PDDON by 24.8% — measured on the PDDON/CRCLB ratio, so it holds regardless of market direction.

PDD Holdings (Ondo Tokenized) →Circle Internet Group (bStocks Tokenized Stock) →