SpaceX (bStocks Tokenized Stock) (SPCXB) is 8503.4× the size of Cameco (Ondo Tokenized) (CCJON) by market capitalisation. Their daily returns move barely together (correlation 0.20 across 27 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against CCJON's 43%.
$123.5200
CCJONSPCXB
0.20over 27 shared trading days
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.
| Metric | CCJON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -16.3% | -47.5% |
| Risk-adjusted return (90d) | -0.17 | 0.28 |
Relative strength over 90 days: SPCXB outperformed CCJON by 17.5% — measured on the CCJON/SPCXB ratio, so it holds regardless of market direction.