SpaceX (bStocks Tokenized Stock) (SPCXB) is 23986.4× the size of GlobalFoundries (Ondo Tokenized) (GFSON) by market capitalisation. Their daily returns move loosely together (correlation 0.44 across 68 shared trading days). Both have run at a similar volatility, around 67% annualised.
$40.1000
$122.7400
GFSONSPCXB
0.44over 68 shared trading days
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.
| Metric | GFSON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -26.8% | -47.5% |
| Risk-adjusted return (90d) | -0.28 | 0.28 |
Relative strength over 90 days: SPCXB outperformed GFSON by 34.3% — measured on the GFSON/SPCXB ratio, so it holds regardless of market direction.