Quanta Services (Ondo Tokenized) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 684.4× the size of Quanta Services (Ondo Tokenized) (PWRON) by market capitalisation. Their daily returns move barely together (correlation 0.26 across 29 shared trading days). Both have run at a similar volatility, around 77% annualised.

Correlation: 0.26
Size ratio: 1 : 684.4

Quanta Services (Ondo Tokenized)PWRON

$578.8200

24h: -10.02%
Market cap: $215,518
Volume 24h: $13,158
Volatility (ann.): 71%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$69.3500

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

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

Performance

PWRONCRCLB

7 days+3.70%-5.56%PWRON
30 days+8.34%-9.22%PWRON
90 days—+19.24%—

Correlation

0.26over 29 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2690d: 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	PWRON	CRCLB
Max drawdown (400d)	-13.8%	-31.5%
Risk-adjusted return (90d)	0.12	0.23

Relative strength over 90 days: PWRON outperformed CRCLB by 34.7% — measured on the PWRON/CRCLB ratio, so it holds regardless of market direction.

Quanta Services (Ondo Tokenized) →Circle Internet Group (bStocks Tokenized Stock) →