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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 584.8× the size of Fabrinet (Ondo Tokenized) (FNON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 27.8 percentage points (FNON -10.1% against SPCXB +17.7%). Their daily returns move barely together (correlation 0.34 across 75 shared trading days). FNON has been the more volatile of the two, at 83% annualised against SPCXB's 71%.

Correlation: 0.34
Size ratio: 1 : 584.8
Ahead over 90 days: SPCXB

Fabrinet (Ondo Tokenized)FNON

$334.3700

24h: -5.48%
Market cap: $314,120
Volume 24h: $142,272
Volatility (ann.): 83%

SpaceX (bStocks Tokenized Stock)SPCXB

$123.5700

24h: -11.19%
Market cap: $183.71M
Volume 24h: $35.96M
Volatility (ann.): 71%

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

Performance

FNONSPCXB

7 days+1.92%-6.33%FNON
30 days-0.45%-21.79%FNON
90 days-10.10%+17.70%SPCXB

Correlation

0.34over 75 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.3090d: 0.341y: 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	FNON	SPCXB
Max drawdown (400d)	-34.8%	-47.5%
Risk-adjusted return (90d)	-0.12	0.28

Relative strength over 90 days: SPCXB outperformed FNON by 21.9% — measured on the FNON/SPCXB ratio, so it holds regardless of market direction.

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