MP Materials (Ondo Tokenized) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 679.7× the size of MP Materials (Ondo Tokenized) (MPON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 30.6 percentage points (MPON -12.9% against SPCXB +17.7%). Their daily returns move barely together (correlation 0.17 across 109 shared trading days). Both have run at a similar volatility, around 69% annualised.

Correlation: 0.17
Size ratio: 1 : 679.7
Ahead over 90 days: SPCXB

MP Materials (Ondo Tokenized)MPON

$35.9900

24h: -3.84%
Market cap: $287,862
Volume 24h: $774,897
Volatility (ann.): 66%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.3800

24h: +1.08%
Market cap: $195.65M
Volume 24h: $48.58M
Volatility (ann.): 71%

MPON 0.1%Share of the two combined market caps99.9% SPCXB

Performance

MPONSPCXB

7 days-3.46%-6.33%MPON
30 days-13.23%-21.79%MPON
90 days-12.88%+17.70%SPCXB

Correlation

0.17over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2290d: 0.371y: 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	MPON	SPCXB
Max drawdown (400d)	-46.1%	-47.5%
Risk-adjusted return (90d)	-0.21	0.28

Relative strength over 90 days: MPON outperformed SPCXB by 2.7% — measured on the MPON/SPCXB ratio, so it holds regardless of market direction.

MP Materials (Ondo Tokenized) →SpaceX (bStocks Tokenized Stock) →