SpaceX (bStocks Tokenized Stock) (SPCXB) is 3596.2× the size of Hubbell (Ondo Tokenized) (HUBBON) by market capitalisation. Their daily returns move barely together (correlation 0.22 across 26 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against HUBBON's 35%.
$437.7700
$125.1900
HUBBONSPCXB
0.22over 26 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 | HUBBON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -5.9% | -47.5% |
| Risk-adjusted return (90d) | 0.05 | 0.28 |
Relative strength over 90 days: SPCXB outperformed HUBBON by 3.9% — measured on the HUBBON/SPCXB ratio, so it holds regardless of market direction.