Enphase Energy (Ondo Tokenized) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 272.3× the size of Enphase Energy (Ondo Tokenized) (ENPHON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 63.0 percentage points (ENPHON -34.9% against SPCXB +28.2%). Their daily returns move barely together (correlation 0.14 across 109 shared trading days). ENPHON has been the more volatile of the two, at 85% annualised against SPCXB's 71%.

Correlation: 0.14
Size ratio: 1 : 272.3
Ahead over 90 days: SPCXB

Enphase Energy (Ondo Tokenized)ENPHON

$30.7300

24h: +9.26%
Market cap: $738,920
Volume 24h: $159,093
Volatility (ann.): 85%

SpaceX (bStocks Tokenized Stock)SPCXB

$135.0900

24h: -4.64%
Market cap: $201.18M
Volume 24h: $72.10M
Volatility (ann.): 71%

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

Performance

ENPHONSPCXB

7 days-6.83%-5.60%SPCXB
30 days-13.98%-11.42%SPCXB
90 days-34.86%+28.18%SPCXB

Correlation

0.14over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2790d: 0.301y: 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	ENPHON	SPCXB
Max drawdown (400d)	-55.8%	-47.5%
Risk-adjusted return (90d)	-0.60	0.45

Relative strength over 90 days: SPCXB outperformed ENPHON by 23.2% — measured on the ENPHON/SPCXB ratio, so it holds regardless of market direction.

Enphase Energy (Ondo Tokenized) →SpaceX (bStocks Tokenized Stock) →