In this study, we analyzed student participation and success in a college-level Calculus I course that utilized standards-based grading. By measuring the level to which students participate in this class structure, we were able to use a clustering algorithm that revealed multiple groupings of students that were distinct based on activity throughout the semester. Additionally, we analyzed student progress, defined as the number of graded activities successfully completed each week. We found that students who progressed steadily throughout the semester, and thus had lower variability in the number of completed activities per week, tended to receive a higher overall grade. Students whose progress was less consistent, and thus exhibited higher variability in weekly activities completed, tended to receive a lower grade. Overall, this shows a relationship between understanding the expectations in standards-based grading and succeeding in a course.