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

Circle Internet Group (bStocks Tokenized Stock) (CRCLB) is 2286.4× the size of USA Rare Earth (Ondo Tokenized) (USARON) by market capitalisation. Their daily returns move barely together (correlation 0.27 across 54 shared trading days). Both have run at a similar volatility, around 83% annualised.

Correlation: 0.27
Size ratio: 1 : 2286.4

USA Rare Earth (Ondo Tokenized)USARON

$8.1500

24h: -5.07%
Market cap: $64,507
Volume 24h: $142,195
Volatility (ann.): 84%

Circle Internet Group (bStocks Tokenized Stock)CRCLB

$69.3500

24h: -9.75%
Market cap: $147.49M
Volume 24h: $34.87M
Volatility (ann.): 82%

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

Performance

USARONCRCLB

7 days-13.40%-5.56%CRCLB
30 days-18.48%-9.22%CRCLB
90 days—+19.24%—

Correlation

0.27over 54 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2390d: 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	USARON	CRCLB
Max drawdown (400d)	-27.0%	-31.5%
Risk-adjusted return (90d)	-0.19	0.23

Relative strength over 90 days: CRCLB outperformed USARON by 37.6% — measured on the USARON/CRCLB ratio, so it holds regardless of market direction.

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