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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 278.3× the size of MercadoLibre (Ondo Tokenized Stock) (MELION) by market capitalisation. Their daily returns move loosely in opposite directions (correlation -0.47 across 31 shared trading days). MELION has been the more volatile of the two, at 101% annualised against SPCXB's 71%.

Correlation: -0.47
Size ratio: 1 : 278.3

MercadoLibre (Ondo Tokenized Stock)MELION

$1,646.79

24h: -2.41%
Market cap: $694,467
Volume 24h: $24
Volatility (ann.): 101%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.6000

24h: -4.38%
Market cap: $193.24M
Volume 24h: $53.14M
Volatility (ann.): 71%

MELION 0.4%Share of the two combined market caps99.6% SPCXB

Performance

MELIONSPCXB

7 days+21.76%-5.60%MELION
30 days+13.61%-11.42%MELION
90 days—+28.18%—

Correlation

-0.47over 31 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.4790d: 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	MELION	SPCXB
Max drawdown (400d)	-14.6%	-47.5%
Risk-adjusted return (90d)	0.13	0.45

Relative strength over 90 days: MELION outperformed SPCXB by 18.2% — measured on the MELION/SPCXB ratio, so it holds regardless of market direction.

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