Strategy (Dinari Tokenized Stock) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 154.4× the size of Strategy (Dinari Tokenized Stock) (MSTR) by market capitalisation. Their daily returns move very closely together (correlation 0.90 across 25 shared trading days). MSTR has been the more volatile of the two, at 113% annualised against CRCLB's 82%.

Correlation: 0.90
Size ratio: 1 : 154.4

Strategy (Dinari Tokenized Stock)MSTR

$132.4800

24h: +0.23%
Market cap: $1.07M
Volume 24h: $10
Volatility (ann.): 113%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$76.2800

24h: +1.31%
Market cap: $165.44M
Volume 24h: $4.10M
Volatility (ann.): 82%

MSTR 0.6%Share of the two combined market caps99.4% CRCLB

Performance

MSTRCRCLB

7 days-3.88%-5.56%MSTR
30 days+24.78%-9.22%MSTR
90 days—+19.24%—

Correlation

0.90over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.9090d: 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	MSTR	CRCLB
Max drawdown (400d)	-12.8%	-31.5%
Risk-adjusted return (90d)	0.22	0.23

Relative strength over 90 days: MSTR outperformed CRCLB by 35.8% — measured on the MSTR/CRCLB ratio, so it holds regardless of market direction.

Strategy (Dinari Tokenized Stock) →Circle Internet Group (bStocks Tokenized Stock) →