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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 210.1× the size of Eaton (Ondo Tokenized) (ETNON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 26.3 percentage points (ETNON +1.8% against SPCXB +28.2%). Their daily returns move barely together (correlation 0.19 across 109 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against ETNON's 44%.

Correlation: 0.19
Size ratio: 1 : 210.1
Ahead over 90 days: SPCXB

Eaton (Ondo Tokenized)ETNON

$386.8800

24h: +4.49%
Market cap: $944,920
Volume 24h: $168,377
Volatility (ann.): 44%

SpaceX (bStocks Tokenized Stock)SPCXB

$135.3200

24h: -0.83%
Market cap: $198.53M
Volume 24h: $45.25M
Volatility (ann.): 71%

ETNON 0.5%Share of the two combined market caps99.5% SPCXB

Performance

ETNONSPCXB

7 days-0.38%-5.60%ETNON
30 days+7.58%-11.42%ETNON
90 days+1.84%+28.18%SPCXB

Correlation

0.19over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3290d: 0.161y: 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	ETNON	SPCXB
Max drawdown (400d)	-16.1%	-47.5%
Risk-adjusted return (90d)	0.04	0.45

Relative strength over 90 days: ETNON outperformed SPCXB by 20.0% — measured on the ETNON/SPCXB ratio, so it holds regardless of market direction.

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