Taiwan Semiconductor Manufacturing • Robinhood Token vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 125.1× the size of Taiwan Semiconductor Manufacturing • Robinhood Token (TSM) by market capitalisation. Their daily returns move loosely together (correlation 0.36 across 37 shared trading days). CRCLB has been the more volatile of the two, at 82% annualised against TSM's 32%.

Correlation: 0.36
Size ratio: 1 : 125.1

Taiwan Semiconductor Manufacturing • Robinhood TokenTSM

$401.2900

24h: -1.04%
Market cap: $1.31M
Volume 24h: $926,332
Volatility (ann.): 32%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$76.1700

24h: +4.82%
Market cap: $164.46M
Volume 24h: $23.50M
Volatility (ann.): 82%

TSM 0.8%Share of the two combined market caps99.2% CRCLB

Performance

TSMCRCLB

7 days-11.63%-7.34%CRCLB
30 days-5.65%-10.38%TSM
90 days—+21.21%—

Correlation

0.36over 37 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.4390d: 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	TSM	CRCLB
Max drawdown (400d)	-11.7%	-31.5%
Risk-adjusted return (90d)	-0.09	0.25

Relative strength over 90 days: TSM outperformed CRCLB by 22.8% — measured on the TSM/CRCLB ratio, so it holds regardless of market direction.

Taiwan Semiconductor Manufacturing • Robinhood Token →Circle Internet Group (bStocks Tokenized Stock) →