Western Digital (bStocks Tokenized Stock) vs Circle Internet Group (Ondo Tokenized Stock)

Circle Internet Group (Ondo Tokenized Stock) (CRCLON) is 43.6× the size of Western Digital (bStocks Tokenized Stock) (WDCB) by market capitalisation. Their daily returns move barely together (correlation 0.25 across 56 shared trading days). Both have run at a similar volatility, around 95% annualised.

Correlation: 0.25
Size ratio: 1 : 43.6

Western Digital (bStocks Tokenized Stock)WDCB

$347.2500

24h: +0.01%
Market cap: $2.05M
Volume 24h: $256,345
Volatility (ann.): 93%

Circle Internet Group (Ondo Tokenized Stock)CRCLON

$75.5400

24h: +5.60%
Market cap: $89.21M
Volume 24h: $693,303
Volatility (ann.): 98%

WDCB 2.2%Share of the two combined market caps97.8% CRCLON

Performance

WDCBCRCLON

7 days-7.59%-6.27%CRCLON
30 days-17.00%-16.67%CRCLON
90 days-24.05%——

Correlation

0.25over 56 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.5190d: 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	WDCB	CRCLON
Max drawdown (400d)	-46.0%	-30.7%
Risk-adjusted return (90d)	-0.34	0.06

Relative strength over 90 days: CRCLON outperformed WDCB by 32.7% — measured on the WDCB/CRCLON ratio, so it holds regardless of market direction.

Western Digital (bStocks Tokenized Stock) →Circle Internet Group (Ondo Tokenized Stock) →