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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 57238.4× the size of NetEase (Ondo Tokenized) (NTESON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.34 across 26 shared trading days). NTESON has been the more volatile of the two, at 87% annualised against SPCXB's 71%.

Correlation: -0.34
Size ratio: 1 : 57238.4

NetEase (Ondo Tokenized)NTESON

$123.3400

24h: +4.57%
Market cap: $3,249
Volume 24h: $3
Volatility (ann.): 87%

SpaceX (bStocks Tokenized Stock)SPCXB

$123.1500

24h: -9.98%
Market cap: $185.96M
Volume 24h: $47.36M
Volatility (ann.): 71%

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

Performance

NTESONSPCXB

7 days+8.51%-6.33%NTESON
30 days-0.23%-21.79%NTESON
90 days—+17.70%—

Correlation

-0.34over 26 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.3490d: 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	NTESON	SPCXB
Max drawdown (400d)	-10.9%	-47.5%
Risk-adjusted return (90d)	0.00	0.28

Relative strength over 90 days: SPCXB outperformed NTESON by 9.4% — measured on the NTESON/SPCXB ratio, so it holds regardless of market direction.

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