Spotify (Ondo Tokenized Stock) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 246.6× the size of Spotify (Ondo Tokenized Stock) (SPOTON) by market capitalisation. Their daily returns move barely together (correlation 0.08 across 110 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against SPOTON's 45%.

Correlation: 0.08
Size ratio: 1 : 246.6

Spotify (Ondo Tokenized Stock)SPOTON

$599.5500

24h: +0.79%
Market cap: $643,233
Volume 24h: $157,406
Volatility (ann.): 45%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$73.7000

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

SPOTON 0.4%Share of the two combined market caps99.6% CRCLB

Performance

SPOTONCRCLB

7 days-1.82%-7.34%SPOTON
30 days-6.76%-10.38%SPOTON
90 days+9.96%+21.21%CRCLB
1 year-27.52%——

Correlation

0.08over 110 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 0.031y: 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	SPOTON	CRCLB
Max drawdown (400d)	-41.9%	-31.5%
Risk-adjusted return (90d)	0.25	0.25

Relative strength over 90 days: CRCLB outperformed SPOTON by 18.7% — measured on the SPOTON/CRCLB ratio, so it holds regardless of market direction.

Spotify (Ondo Tokenized Stock) →Circle Internet Group (bStocks Tokenized Stock) →