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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 949.9× the size of Applied Optoelectronics (Ondo Tokenized) (AAOION) by market capitalisation. Over the past 90 days, SPCXB is ahead by 50.4 percentage points (AAOION -32.7% against SPCXB +17.7%). Their daily returns move barely together (correlation 0.28 across 103 shared trading days). AAOION has been the more volatile of the two, at 130% annualised against SPCXB's 71%.

Correlation: 0.28
Size ratio: 1 : 949.9
Ahead over 90 days: SPCXB

Applied Optoelectronics (Ondo Tokenized)AAOION

$58.9000

24h: -5.99%
Market cap: $206,738
Volume 24h: $549,354
Volatility (ann.): 130%

SpaceX (bStocks Tokenized Stock)SPCXB

$133.1500

24h: -1.33%
Market cap: $196.38M
Volume 24h: $57.23M
Volatility (ann.): 71%

AAOION 0.1%Share of the two combined market caps99.9% SPCXB

Performance

AAOIONSPCXB

7 days-10.88%-6.33%SPCXB
30 days-6.83%-21.79%AAOION
90 days-32.68%+17.70%SPCXB

Correlation

0.28over 103 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1590d: 0.311y: 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	AAOION	SPCXB
Max drawdown (400d)	-54.6%	-47.5%
Risk-adjusted return (90d)	-0.25	0.28

Relative strength over 90 days: SPCXB outperformed AAOION by 20.7% — measured on the AAOION/SPCXB ratio, so it holds regardless of market direction.

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