SpaceX (bStocks Tokenized Stock) (SPCXB) is 22.1× the size of Intel (Ondo Tokenized Stock) (INTCON) by market capitalisation. Their daily returns move barely together (correlation 0.18 across 117 shared trading days). INTCON has been the more volatile of the two, at 92% annualised against SPCXB's 71%.
$59.0000
$138.2200
INTCONSPCXB
0.18over 117 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 | INTCON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -57.4% | -47.5% |
| Risk-adjusted return (90d) | -0.40 | 0.45 |
| Best 30 days (past year) | +141.1% | — |
| Worst 30 days (past year) | -38.4% | — |
Relative strength over 90 days: SPCXB outperformed INTCON by 41.6% — measured on the INTCON/SPCXB ratio, so it holds regardless of market direction.