The Wendy's Company (Backpack Securities) vs Circle Internet Group (bStocks Tokenized Stock)

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 1201.1× the size of The Wendy's Company (Backpack Securities) (WEN) by market capitalisation. Their daily returns move barely together (correlation 0.05 across 22 shared trading days). Both have run at a similar volatility, around 84% annualised.

Correlation: 0.05
Size ratio: 1 : 1201.1

The Wendy's Company (Backpack Securities)WEN

$7.5100

24h: +4.14%
Market cap: $132,141
Volume 24h: $817,793
Volatility (ann.): 87%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$73.8600

24h: +1.36%
Market cap: $158.71M
Volume 24h: $34.71M
Volatility (ann.): 82%

WEN 0.1%Share of the two combined market caps99.9% CRCLB

Performance

WENCRCLB

7 days+7.48%-5.56%WEN
30 days—-9.22%—
90 days—+19.24%—

Correlation

0.05over 22 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: insufficient data90d: 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	WEN	CRCLB
Max drawdown (400d)	-8.9%	-31.5%
Risk-adjusted return (90d)	0.24	0.23

Relative strength over 90 days: WEN outperformed CRCLB by 29.9% — measured on the WEN/CRCLB ratio, so it holds regardless of market direction.

The Wendy's Company (Backpack Securities) →Circle Internet Group (bStocks Tokenized Stock) →