USA Rare Earth (bStocks Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 99.5× the size of USA Rare Earth (bStocks Tokenized Stock) (USARB) by market capitalisation. Their daily returns move loosely together (correlation 0.47 across 56 shared trading days). Both have run at a similar volatility, around 93% annualised.

Correlation: 0.47
Size ratio: 1 : 99.5

USA Rare Earth (bStocks Tokenized Stock)USARB

$8.9800

24h: -0.01%
Market cap: $902,511
Volume 24h: $136,788
Volatility (ann.): 87%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$76.1200

24h: +5.01%
Market cap: $89.79M
Volume 24h: $697,234
Volatility (ann.): 98%

USARB 1.0%Share of the two combined market caps99.0% CRCLON

Performance

USARBCRCLON

7 days-15.26%-6.27%CRCLON
30 days-36.15%-16.67%CRCLON
90 days-48.78%——

Correlation

0.47over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5690d: 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	USARB	CRCLON
Max drawdown (400d)	-56.4%	-30.7%
Risk-adjusted return (90d)	-0.56	0.06

Relative strength over 90 days: CRCLON outperformed USARB by 54.7% — measured on the USARB/CRCLON ratio, so it holds regardless of market direction.

USA Rare Earth (bStocks Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →