Penguin Solutions • Robinhood Token vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 2124.7× the size of Penguin Solutions • Robinhood Token (PENG) by market capitalisation. Their daily returns move barely together (correlation 0.15 across 35 shared trading days). PENG has been the more volatile of the two, at 122% annualised against CRCLB's 82%.

Correlation: 0.15
Size ratio: 1 : 2124.7

Penguin Solutions • Robinhood TokenPENG

$47.7700

24h: -8.32%
Market cap: $69,417
Volume 24h: $35,398
Volatility (ann.): 122%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$68.8600

24h: -9.75%
Market cap: $147.49M
Volume 24h: $34.87M
Volatility (ann.): 82%

PENG 0.0%Share of the two combined market caps100.0% CRCLB

Performance

PENGCRCLB

7 days-18.41%-5.56%CRCLB
30 days-20.12%-9.22%CRCLB
90 days—+19.24%—

Correlation

0.15over 35 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1990d: 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	PENG	CRCLB
Max drawdown (400d)	-39.2%	-31.5%
Risk-adjusted return (90d)	-0.09	0.23

Relative strength over 90 days: CRCLB outperformed PENG by 2.6% — measured on the PENG/CRCLB ratio, so it holds regardless of market direction.

Penguin Solutions • Robinhood Token →Circle Internet Group (bStocks Tokenized Stock) →