Navitas Semiconductor (Ondo Tokenized) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 8093.5× the size of Navitas Semiconductor (Ondo Tokenized) (NVTSON) by market capitalisation. Their daily returns move closely together (correlation 0.77 across 26 shared trading days). NVTSON has been the more volatile of the two, at 114% annualised against SPCXB's 71%.

Correlation: 0.77
Size ratio: 1 : 8093.5

Navitas Semiconductor (Ondo Tokenized)NVTSON

$9.0800

24h: +5.93%
Market cap: $24,130
Volume 24h: $228
Volatility (ann.): 114%

SpaceX (bStocks Tokenized Stock)SPCXB

$131.9200

24h: -0.60%
Market cap: $195.30M
Volume 24h: $43.16M
Volatility (ann.): 71%

NVTSON 0.0%Share of the two combined market caps100.0% SPCXB

Performance

NVTSONSPCXB

7 days-22.94%-6.33%SPCXB
30 days-15.43%-21.79%NVTSON
90 days—+17.70%—

Correlation

0.77over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.7790d: 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	NVTSON	SPCXB
Max drawdown (400d)	-24.4%	-47.5%
Risk-adjusted return (90d)	-0.14	0.28

Relative strength over 90 days: SPCXB outperformed NVTSON by 5.8% — measured on the NVTSON/SPCXB ratio, so it holds regardless of market direction.

Navitas Semiconductor (Ondo Tokenized) →SpaceX (bStocks Tokenized Stock) →