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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 7241.2× the size of ConocoPhillips (Ondo Tokenized Stock) (COPON) by market capitalisation. Over the past 90 days, COPON is ahead by 32.0 percentage points (COPON +23.4% against SPCXB -8.6%). Their daily returns move barely in opposite directions (correlation -0.30 across 109 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against COPON's 33%.

Correlation: -0.30
Size ratio: 1 : 7241.2
Ahead over 90 days: COPON

ConocoPhillips (Ondo Tokenized Stock)COPON

$137.3700

24h: -1.09%
Market cap: $27,290
Volume 24h: $483,049
Volatility (ann.): 33%

SpaceX (bStocks Tokenized Stock)SPCXB

$126.5200

24h: -5.95%
Market cap: $197.61M
Volume 24h: $62.11M
Volatility (ann.): 73%

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

Performance

COPONSPCXB

7 days+0.62%-12.85%COPON
30 days-1.83%-27.86%COPON
90 days+23.40%-8.57%COPON

Correlation

-0.30over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.5690d: -0.231y: 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	COPON	SPCXB
Max drawdown (400d)	-22.4%	-47.5%
Risk-adjusted return (90d)	0.69	-0.15

Relative strength over 90 days: COPON outperformed SPCXB by 45.4% — measured on the COPON/SPCXB ratio, so it holds regardless of market direction.

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