D-Wave Quantum (Ondo Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 517.2× the size of D-Wave Quantum (Ondo Tokenized Stock) (QBTSON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 83.0 percentage points (QBTSON -54.8% against SPCXB +28.2%). Their daily returns move barely in opposite directions (correlation -0.15 across 112 shared trading days). QBTSON has been the more volatile of the two, at 553% annualised against SPCXB's 71%.

Correlation: -0.15
Size ratio: 1 : 517.2
Ahead over 90 days: SPCXB

D-Wave Quantum (Ondo Tokenized Stock)QBTSON

$10.1200

24h: -1.13%
Market cap: $387,250
Volume 24h: $795,817
Volatility (ann.): 553%

SpaceX (bStocks Tokenized Stock)SPCXB

$135.7100

24h: -4.55%
Market cap: $200.30M
Volume 24h: $71.73M
Volatility (ann.): 71%

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

Performance

QBTSONSPCXB

7 days-41.40%-5.60%SPCXB
30 days-38.62%-11.42%SPCXB
90 days-54.78%+28.18%SPCXB

Correlation

-0.15over 112 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.5390d: -0.201y: 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	QBTSON	SPCXB
Max drawdown (400d)	-80.5%	-47.5%
Risk-adjusted return (90d)	-0.08	0.45

Relative strength over 90 days: SPCXB outperformed QBTSON by 49.0% — measured on the QBTSON/SPCXB ratio, so it holds regardless of market direction.

D-Wave Quantum (Ondo Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →