Dell Technologies (Ondo Tokenized) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 269.7× the size of Dell Technologies (Ondo Tokenized) (DELLON) by market capitalisation. Over the past 90 days, DELLON is ahead by 1.2 percentage points (DELLON +29.3% against SPCXB +28.2%). Their daily returns move barely together (correlation 0.26 across 103 shared trading days). Both have run at a similar volatility, around 73% annualised.

Correlation: 0.26
Size ratio: 1 : 269.7
Ahead over 90 days: DELLON

Dell Technologies (Ondo Tokenized)DELLON

$402.0800

24h: +1.17%
Market cap: $742,343
Volume 24h: $287,895
Volatility (ann.): 74%

SpaceX (bStocks Tokenized Stock)SPCXB

$137.9600

24h: -2.68%
Market cap: $200.21M
Volume 24h: $59.55M
Volatility (ann.): 71%

DELLON 0.4%Share of the two combined market caps99.6% SPCXB

Performance

DELLONSPCXB

7 days-4.23%-5.60%DELLON
30 days+21.12%-11.42%DELLON
90 days+29.34%+28.18%DELLON

Correlation

0.26over 103 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3890d: 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	DELLON	SPCXB
Max drawdown (400d)	-19.4%	-47.5%
Risk-adjusted return (90d)	0.39	0.45

Relative strength over 90 days: DELLON outperformed SPCXB by 52.4% — measured on the DELLON/SPCXB ratio, so it holds regardless of market direction.

Dell Technologies (Ondo Tokenized) →SpaceX (bStocks Tokenized Stock) →