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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 405.3× the size of Ciena (Ondo Tokenized) (CIENON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 38.1 percentage points (CIENON -20.4% against SPCXB +17.7%). Their daily returns move barely together (correlation 0.27 across 83 shared trading days). CIENON has been the more volatile of the two, at 83% annualised against SPCXB's 71%.

Correlation: 0.27
Size ratio: 1 : 405.3
Ahead over 90 days: SPCXB

Ciena (Ondo Tokenized)CIENON

$268.1000

24h: -7.85%
Market cap: $484,514
Volume 24h: $154,728
Volatility (ann.): 83%

SpaceX (bStocks Tokenized Stock)SPCXB

$133.1500

24h: -1.33%
Market cap: $196.38M
Volume 24h: $57.23M
Volatility (ann.): 71%

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

Performance

CIENONSPCXB

7 days-6.48%-6.33%SPCXB
30 days-8.32%-21.79%CIENON
90 days-20.42%+17.70%SPCXB

Correlation

0.27over 83 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1490d: 0.271y: 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	CIENON	SPCXB
Max drawdown (400d)	-32.0%	-47.5%
Risk-adjusted return (90d)	-0.24	0.28

Relative strength over 90 days: SPCXB outperformed CIENON by 18.8% — measured on the CIENON/SPCXB ratio, so it holds regardless of market direction.

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