Northrop Grumman (Ondo Tokenized) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 6584.0× the size of Northrop Grumman (Ondo Tokenized) (NOCON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.15 across 25 shared trading days). SPCXB has been the more volatile of the two, at 73% annualised against NOCON's 35%.

Correlation: -0.15
Size ratio: 1 : 6584.0

Northrop Grumman (Ondo Tokenized)NOCON

$533.0900

24h: +1.24%
Market cap: $30,014
Volume 24h: $1,080
Volatility (ann.): 35%

SpaceX (bStocks Tokenized Stock)SPCXB

$126.5200

24h: -5.95%
Market cap: $197.61M
Volume 24h: $62.11M
Volatility (ann.): 73%

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

Performance

NOCONSPCXB

7 days-3.62%-12.85%NOCON
30 days-9.73%-27.86%NOCON
90 days—-8.57%—

Correlation

-0.15over 25 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: -0.1590d: 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	NOCON	SPCXB
Max drawdown (400d)	-13.6%	-47.5%
Risk-adjusted return (90d)	-0.28	-0.15

Relative strength over 90 days: SPCXB outperformed NOCON by 16.1% — measured on the NOCON/SPCXB ratio, so it holds regardless of market direction.

Northrop Grumman (Ondo Tokenized) →SpaceX (bStocks Tokenized Stock) →