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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 222122.9× the size of Carvana (Ondo Tokenized Stock) (CVNAON) by market capitalisation. Their daily returns move loosely together (correlation 0.37 across 26 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against CVNAON's 48%.

Correlation: 0.37
Size ratio: 1 : 222122.9

Carvana (Ondo Tokenized Stock)CVNAON

$352.9100

24h: —
Market cap: $886
Volume 24h: $19
Volatility (ann.): 48%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.9100

24h: -2.39%
Market cap: $196.73M
Volume 24h: $67.32M
Volatility (ann.): 71%

CVNAON 0.0%Share of the two combined market caps100.0% SPCXB

Performance

CVNAONSPCXB

7 days-0.52%-6.33%CVNAON
30 days-12.80%-21.79%CVNAON
90 days—+17.70%—

Correlation

0.37over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3790d: 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	CVNAON	SPCXB
Max drawdown (400d)	-19.6%	-47.5%
Risk-adjusted return (90d)	-0.27	0.28

Relative strength over 90 days: SPCXB outperformed CVNAON by 17.7% — measured on the CVNAON/SPCXB ratio, so it holds regardless of market direction.

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