Linde plc (Ondo Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 114.9× the size of Linde plc (Ondo Tokenized Stock) (LINON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.03 across 28 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against LINON's 59%.

Correlation: -0.03
Size ratio: 1 : 114.9

Linde plc (Ondo Tokenized Stock)LINON

$523.8200

24h: -1.92%
Market cap: $1.70M
Volume 24h: $46
Volatility (ann.): 59%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.8600

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

LINON 0.9%Share of the two combined market caps99.1% SPCXB

Performance

LINONSPCXB

7 days+2.61%-5.60%LINON
30 days-3.07%-11.42%LINON
90 days—+28.18%—

Correlation

-0.03over 28 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.0390d: insufficient data1y: 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	LINON	SPCXB
Max drawdown (400d)	-14.4%	-47.5%
Risk-adjusted return (90d)	-0.05	0.45

Relative strength over 90 days: SPCXB outperformed LINON by 7.9% — measured on the LINON/SPCXB ratio, so it holds regardless of market direction.

Linde plc (Ondo Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →