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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 93.6× the size of IREN (Ondo Tokenized Stock) (IRENON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 73.2 percentage points (IRENON -45.0% against SPCXB +28.2%). Their daily returns move barely together (correlation 0.15 across 117 shared trading days). IRENON has been the more volatile of the two, at 124% annualised against SPCXB's 71%.

Correlation: 0.15
Size ratio: 1 : 93.6
Ahead over 90 days: SPCXB

IREN (Ondo Tokenized Stock)IRENON

$23.2200

24h: +2.83%
Market cap: $2.09M
Volume 24h: $1.13M
Volatility (ann.): 124%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.9200

24h: -3.48%
Market cap: $195.62M
Volume 24h: $53.04M
Volatility (ann.): 71%

IRENON 1.1%Share of the two combined market caps98.9% SPCXB

Performance

IRENONSPCXB

7 days-11.69%-5.60%SPCXB
30 days-46.16%-11.42%SPCXB
90 days-44.98%+28.18%SPCXB

Correlation

0.15over 117 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0590d: 0.171y: 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	IRENON	SPCXB
Max drawdown (400d)	-65.2%	-47.5%
Risk-adjusted return (90d)	-0.33	0.45

Relative strength over 90 days: SPCXB outperformed IRENON by 41.8% — measured on the IRENON/SPCXB ratio, so it holds regardless of market direction.

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