Strategy Stretch Preferred (Ondo Tokenized) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 3.1× the size of Strategy Stretch Preferred (Ondo Tokenized) (STRCON) by market capitalisation. Over the past 90 days, CRCLB is ahead by 2.3 percentage points (STRCON +18.9% against CRCLB +21.2%). Their daily returns move barely together (correlation 0.31 across 101 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against STRCON's 20%.

Correlation: 0.31
Size ratio: 1 : 3.1
Ahead over 90 days: CRCLB

Strategy Stretch Preferred (Ondo Tokenized)STRCON

$106.6000

24h: -0.07%
Market cap: $53.01M
Volume 24h: $1.14M
Volatility (ann.): 20%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$76.3900

24h: +5.17%
Market cap: $163.95M
Volume 24h: $23.61M
Volatility (ann.): 82%

STRCON 24.4%Share of the two combined market caps75.6% CRCLB

Performance

STRCONCRCLB

7 days+0.80%-7.34%STRCON
30 days+3.71%-10.38%STRCON
90 days+18.91%+21.21%CRCLB

Correlation

0.31over 101 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3290d: 0.371y: 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	STRCON	CRCLB
Max drawdown (400d)	-4.3%	-31.5%
Risk-adjusted return (90d)	1.13	0.25

Relative strength over 90 days: STRCON outperformed CRCLB by 5.4% — measured on the STRCON/CRCLB ratio, so it holds regardless of market direction.

Strategy Stretch Preferred (Ondo Tokenized) →Circle Internet Group (bStocks Tokenized Stock) →