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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 13.2× the size of SpaceX (Backpack Securities) (SPCX) by market capitalisation. Their daily returns move loosely together (correlation 0.44 across 41 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against SPCX's 43%.

Correlation: 0.44
Size ratio: 1 : 13.2

SpaceX (Backpack Securities)SPCX

$136.1900

24h: -0.90%
Market cap: $12.17M
Volume 24h: $10.72M
Volatility (ann.): 43%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$74.1600

24h: +2.25%
Market cap: $161.01M
Volume 24h: $27.84M
Volatility (ann.): 82%

SPCX 7.0%Share of the two combined market caps93.0% CRCLB

Performance

SPCXCRCLB

7 days-4.65%-7.34%SPCX
30 days-7.33%-10.38%SPCX
90 days—+21.21%—

Correlation

0.44over 41 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	SPCX	CRCLB
Max drawdown (400d)	-12.4%	-31.5%
Risk-adjusted return (90d)	0.02	0.25

Relative strength over 90 days: SPCX outperformed CRCLB by 18.6% — measured on the SPCX/CRCLB ratio, so it holds regardless of market direction.

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