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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 67.6× the size of Chevron (Ondo Tokenized Stock) (CVXON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.34 across 110 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against CVXON's 25%.

Correlation: -0.34
Size ratio: 1 : 67.6

Chevron (Ondo Tokenized Stock)CVXON

$226.0900

24h: -2.23%
Market cap: $2.95M
Volume 24h: $227,715
Volatility (ann.): 25%

SpaceX (bStocks Tokenized Stock)SPCXB

$136.5600

24h: -1.13%
Market cap: $199.56M
Volume 24h: $46.45M
Volatility (ann.): 71%

CVXON 1.5%Share of the two combined market caps98.5% SPCXB

Performance

CVXONSPCXB

7 days+1.97%-5.60%CVXON
30 days+0.83%-11.42%CVXON
90 days+25.10%+28.18%SPCXB
1 year+41.43%——

Correlation

-0.34over 110 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3090d: -0.341y: 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	CVXON	SPCXB
Max drawdown (400d)	-21.2%	-47.5%
Risk-adjusted return (90d)	0.96	0.45

Relative strength over 90 days: CVXON outperformed SPCXB by 32.2% — measured on the CVXON/SPCXB ratio, so it holds regardless of market direction.

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