SpaceX (bStocks Tokenized Stock) (SPCXB) is 7887.9× the size of Kanzhun (Ondo Tokenized Stock) (BZON) by market capitalisation. Their daily returns move barely together (correlation 0.29 across 29 shared trading days). Both have run at a similar volatility, around 74% annualised.
$124.3500
BZONSPCXB
0.29over 29 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 | BZON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -17.6% | -47.5% |
| Risk-adjusted return (90d) | -0.14 | 0.28 |
Relative strength over 90 days: SPCXB outperformed BZON by 16.9% — measured on the BZON/SPCXB ratio, so it holds regardless of market direction.