SpaceX (bStocks Tokenized Stock) (SPCXB) is 1873.2× the size of Li Auto (Ondo Tokenized) (LION) by market capitalisation. Their daily returns move barely together (correlation 0.07 across 28 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against LION's 47%.
$131.9000
LIONSPCXB
0.07over 28 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 | LION | SPCXB |
|---|---|---|
| Max drawdown (400d) | -14.6% | -47.5% |
| Risk-adjusted return (90d) | -0.24 | 0.28 |
Relative strength over 90 days: SPCXB outperformed LION by 16.4% — measured on the LION/SPCXB ratio, so it holds regardless of market direction.