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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 3.3× the size of Strategy (bStocks Tokenized Stock) (MSTRB) by market capitalisation. Over the past 90 days, MSTRB is ahead by 16.6 percentage points (MSTRB +37.8% against CRCLB +21.2%). Their daily returns move closely together (correlation 0.76 across 134 shared trading days). Both have run at a similar volatility, around 85% annualised.

Correlation: 0.76
Size ratio: 1 : 3.3
Ahead over 90 days: MSTRB

Strategy (bStocks Tokenized Stock)MSTRB

$137.3100

24h: +5.27%
Market cap: $49.98M
Volume 24h: $15.58M
Volatility (ann.): 88%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$75.7100

24h: +4.68%
Market cap: $162.80M
Volume 24h: $23.30M
Volatility (ann.): 82%

MSTRB 23.5%Share of the two combined market caps76.5% CRCLB

Performance

MSTRBCRCLB

7 days-4.52%-7.34%MSTRB
30 days-18.17%-10.38%CRCLB
90 days+37.80%+21.21%MSTRB

Correlation

0.76over 134 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.8690d: 0.841y: 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	MSTRB	CRCLB
Max drawdown (400d)	-22.6%	-31.5%
Risk-adjusted return (90d)	0.44	0.25

Relative strength over 90 days: MSTRB outperformed CRCLB by 13.7% — measured on the MSTRB/CRCLB ratio, so it holds regardless of market direction.

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