SpaceX (bStocks Tokenized Stock) (SPCXB) is 87621.5× the size of Celestica (Ondo Tokenized) (CLSON) by market capitalisation. Their daily returns move barely together (correlation 0.15 across 26 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against CLSON's 61%.
$249.4400
$133.4400
CLSONSPCXB
0.15over 26 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 | CLSON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -8.8% | -47.5% |
| Risk-adjusted return (90d) | 0.19 | 0.28 |
Relative strength over 90 days: CLSON outperformed SPCXB by 3.5% — measured on the CLSON/SPCXB ratio, so it holds regardless of market direction.