Salesforce (bStocks Tokenized Stock) (CRMB) and Circle Internet Group (bStocks Tokenized Stock) (CRCLB) compared side by side. Their daily returns move barely together (correlation 0.25 across 56 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against CRMB's 36%.
$223.0200
$75.6300
CRMBCRCLB
0.25over 56 shared trading days
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.
| Metric | CRMB | CRCLB |
|---|---|---|
| Max drawdown (400d) | -14.4% | -31.5% |
| Risk-adjusted return (90d) | -0.27 | 0.25 |
Relative strength over 90 days: CRMB outperformed CRCLB by 11.2% — measured on the CRMB/CRCLB ratio, so it holds regardless of market direction.