Sandisk (Backpack Securities) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 93.3× the size of Sandisk (Backpack Securities) (SNDK) by market capitalisation. Their daily returns move loosely together (correlation 0.38 across 40 shared trading days). SNDK has been the more volatile of the two, at 116% annualised against CRCLB's 82%.

Correlation: 0.38
Size ratio: 1 : 93.3

Sandisk (Backpack Securities)SNDK

$1,091.31

24h: -0.38%
Market cap: $1.70M
Volume 24h: $683,174
Volatility (ann.): 116%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$73.7000

24h: +0.49%
Market cap: $158.63M
Volume 24h: $25.34M
Volatility (ann.): 82%

SNDK 1.1%Share of the two combined market caps98.9% CRCLB

Performance

SNDKCRCLB

7 days-13.87%-7.34%CRCLB
30 days-35.78%-10.38%CRCLB
90 days—+21.21%—

Correlation

0.38over 40 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4890d: 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	SNDK	CRCLB
Max drawdown (400d)	-42.6%	-31.5%
Risk-adjusted return (90d)	-0.22	0.25

Relative strength over 90 days: CRCLB outperformed SNDK by 13.1% — measured on the SNDK/CRCLB ratio, so it holds regardless of market direction.

Sandisk (Backpack Securities) →Circle Internet Group (bStocks Tokenized Stock) →