S&P Global (Ondo Tokenized Stock) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 155.6× the size of S&P Global (Ondo Tokenized Stock) (SPGION) by market capitalisation. Their daily returns move barely together (correlation 0.23 across 38 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against SPGION's 53%.

Correlation: 0.23
Size ratio: 1 : 155.6

S&P Global (Ondo Tokenized Stock)SPGION

$489.1500

24h: -1.72%
Market cap: $1.03M
Volume 24h: $1,257
Volatility (ann.): 53%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$73.3300

24h: -0.38%
Market cap: $160.95M
Volume 24h: $31.23M
Volatility (ann.): 82%

SPGION 0.6%Share of the two combined market caps99.4% CRCLB

Performance

SPGIONCRCLB

7 days+19.06%-7.34%SPGION
30 days+6.64%-10.38%SPGION
90 days—+21.21%—

Correlation

0.23over 38 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1490d: 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	SPGION	CRCLB
Max drawdown (400d)	-12.9%	-31.5%
Risk-adjusted return (90d)	0.15	0.25

Relative strength over 90 days: SPGION outperformed CRCLB by 36.5% — measured on the SPGION/CRCLB ratio, so it holds regardless of market direction.

S&P Global (Ondo Tokenized Stock) →Circle Internet Group (bStocks Tokenized Stock) →