SpaceX (bStocks Tokenized Stock) (SPCXB) is 1063.2× the size of KLA (Ondo Tokenized) (KLACON) by market capitalisation. Their daily returns move barely together (correlation 0.13 across 30 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against KLACON's 50%.
$122.1200
KLACONSPCXB
0.13over 30 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 | KLACON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -11.4% | -47.5% |
| Risk-adjusted return (90d) | 0.40 | 0.28 |
Relative strength over 90 days: KLACON outperformed SPCXB by 13.2% — measured on the KLACON/SPCXB ratio, so it holds regardless of market direction.