Applied Materials (Ondo Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 382.6× the size of Applied Materials (Ondo Tokenized Stock) (AMATON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 63.0 percentage points (AMATON -34.8% against SPCXB +28.2%). Their daily returns move barely together (correlation 0.20 across 109 shared trading days). Both have run at a similar volatility, around 68% annualised.

Correlation: 0.20
Size ratio: 1 : 382.6
Ahead over 90 days: SPCXB

Applied Materials (Ondo Tokenized Stock)AMATON

$370.7200

24h: -3.17%
Market cap: $511,250
Volume 24h: $820,680
Volatility (ann.): 65%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.5500

24h: -3.48%
Market cap: $195.62M
Volume 24h: $53.04M
Volatility (ann.): 71%

AMATON 0.3%Share of the two combined market caps99.7% SPCXB

Performance

AMATONSPCXB

7 days+1.10%-5.60%AMATON
30 days+2.36%-11.42%AMATON
90 days-34.81%+28.18%SPCXB

Correlation

0.20over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0290d: 0.291y: 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	AMATON	SPCXB
Max drawdown (400d)	-42.1%	-47.5%
Risk-adjusted return (90d)	-0.49	0.45

Relative strength over 90 days: SPCXB outperformed AMATON by 23.2% — measured on the AMATON/SPCXB ratio, so it holds regardless of market direction.

Applied Materials (Ondo Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →