Talen Energy (Ondo Tokenized Stock) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 4100.7× the size of Talen Energy (Ondo Tokenized Stock) (TLNON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.08 across 25 shared trading days). CRCLB has been the more volatile of the two, at 83% annualised against TLNON's 50%.

Correlation: -0.08
Size ratio: 1 : 4100.7

Talen Energy (Ondo Tokenized Stock)TLNON

$316.2200

24h: -3.19%
Market cap: $36,686
Volume 24h: $1,466
Volatility (ann.): 50%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$68.6100

24h: -9.49%
Market cap: $150.44M
Volume 24h: $44.23M
Volatility (ann.): 83%

TLNON 0.0%Share of the two combined market caps100.0% CRCLB

Performance

TLNONCRCLB

7 days+5.15%-10.02%TLNON
30 days+5.00%-18.89%TLNON
90 days—+1.70%—

Correlation

-0.08over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0890d: 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	TLNON	CRCLB
Max drawdown (400d)	-13.5%	-35.4%
Risk-adjusted return (90d)	0.10	0.02

Relative strength over 90 days: TLNON outperformed CRCLB by 30.6% — measured on the TLNON/CRCLB ratio, so it holds regardless of market direction.

Talen Energy (Ondo Tokenized Stock) →Circle Internet Group (bStocks Tokenized Stock) →