ProShares UltraShort 20+ Year Treasury aStock vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 3272214.5× the size of ProShares UltraShort 20+ Year Treasury aStock (ATBT) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.28 across 31 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against ATBT's 24%.

Correlation: -0.28
Size ratio: 1 : 3272214.5

ProShares UltraShort 20+ Year Treasury aStockATBT

$38.3800

24h: +0.37%
Market cap: $50
Volume 24h: —
Volatility (ann.): 24%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$76.0600

24h: +2.25%
Market cap: $162.04M
Volume 24h: $41.12M
Volatility (ann.): 82%

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

Performance

ATBTCRCLB

7 days-3.73%-5.56%ATBT
30 days-5.88%-9.22%ATBT
90 days—+19.24%—

Correlation

-0.28over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.2890d: 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	ATBT	CRCLB
Max drawdown (400d)	-11.0%	-31.5%
Risk-adjusted return (90d)	-0.24	0.23

Relative strength over 90 days: ATBT outperformed CRCLB by 3.3% — measured on the ATBT/CRCLB ratio, so it holds regardless of market direction.

ProShares UltraShort 20+ Year Treasury aStock →Circle Internet Group (bStocks Tokenized Stock) →