TSMC (bStocks Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 22.0× the size of TSMC (bStocks Tokenized Stock) (TSMB) by market capitalisation. Their daily returns move loosely together (correlation 0.39 across 56 shared trading days). CRCLON has been the more volatile of the two, at 98% annualised against TSMB's 38%.

Correlation: 0.39
Size ratio: 1 : 22.0

TSMC (bStocks Tokenized Stock)TSMB

$399.9200

24h: -0.22%
Market cap: $3.94M
Volume 24h: $106,762
Volatility (ann.): 38%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$73.7900

24h: +1.32%
Market cap: $86.85M
Volume 24h: $1.01M
Volatility (ann.): 98%

TSMB 4.3%Share of the two combined market caps95.7% CRCLON

Performance

TSMBCRCLON

7 days-7.07%-6.27%CRCLON
30 days-14.71%-16.67%TSMB
90 days-1.60%——

Correlation

0.39over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5090d: 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	TSMB	CRCLON
Max drawdown (400d)	-17.5%	-30.7%
Risk-adjusted return (90d)	-0.05	0.06

Relative strength over 90 days: CRCLON outperformed TSMB by 6.7% — measured on the TSMB/CRCLON ratio, so it holds regardless of market direction.

TSMC (bStocks Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →