Shopify • Robinhood Token vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 2205.0× the size of Shopify • Robinhood Token (SHOP) by market capitalisation. Their daily returns move barely together (correlation 0.20 across 36 shared trading days). Both have run at a similar volatility, around 78% annualised.

Correlation: 0.20
Size ratio: 1 : 2205.0

Shopify • Robinhood TokenSHOP

$151.7500

24h: +10.97%
Market cap: $71,979
Volume 24h: $7,353
Volatility (ann.): 74%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$73.9900

24h: +1.36%
Market cap: $158.71M
Volume 24h: $34.71M
Volatility (ann.): 82%

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

Performance

SHOPCRCLB

7 days+6.50%-5.56%SHOP
30 days+4.91%-9.22%SHOP
90 days—+19.24%—

Correlation

0.20over 36 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3590d: 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	SHOP	CRCLB
Max drawdown (400d)	-16.1%	-31.5%
Risk-adjusted return (90d)	0.08	0.23

Relative strength over 90 days: SHOP outperformed CRCLB by 30.9% — measured on the SHOP/CRCLB ratio, so it holds regardless of market direction.

Shopify • Robinhood Token →Circle Internet Group (bStocks Tokenized Stock) →