AppLovin (Ondo Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 488.4× the size of AppLovin (Ondo Tokenized Stock) (APPON) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.51 across 30 shared trading days). APPON has been the more volatile of the two, at 302% annualised against SPCXB's 71%.

Correlation: -0.51
Size ratio: 1 : 488.4

AppLovin (Ondo Tokenized Stock)APPON

$239.4200

24h: +4.06%
Market cap: $400,519
Volume 24h: $104
Volatility (ann.): 302%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.9200

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

APPON 0.2%Share of the two combined market caps99.8% SPCXB

Performance

APPONSPCXB

7 days-26.21%-5.60%SPCXB
30 days-26.16%-11.42%SPCXB
90 days—+28.18%—

Correlation

-0.51over 30 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	APPON	SPCXB
Max drawdown (400d)	-51.9%	-47.5%
Risk-adjusted return (90d)	-0.09	0.45

Relative strength over 90 days: SPCXB outperformed APPON by 25.5% — measured on the APPON/SPCXB ratio, so it holds regardless of market direction.

AppLovin (Ondo Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →