Novo Nordisk (Ondo Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 90.5× the size of Novo Nordisk (Ondo Tokenized Stock) (NVOON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 47.8 percentage points (NVOON -19.6% against SPCXB +28.2%). Their daily returns move barely together (correlation 0.07 across 109 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against NVOON's 50%.

Correlation: 0.07
Size ratio: 1 : 90.5
Ahead over 90 days: SPCXB

Novo Nordisk (Ondo Tokenized Stock)NVOON

$41.3500

24h: -0.83%
Market cap: $2.18M
Volume 24h: $784,969
Volatility (ann.): 50%

SpaceX (bStocks Tokenized Stock)SPCXB

$135.2300

24h: -4.48%
Market cap: $197.62M
Volume 24h: $70.19M
Volatility (ann.): 71%

NVOON 1.1%Share of the two combined market caps98.9% SPCXB

Performance

NVOONSPCXB

7 days-3.24%-5.60%NVOON
30 days-15.93%-11.42%SPCXB
90 days-19.65%+28.18%SPCXB

Correlation

0.07over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.2890d: 0.181y: 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	NVOON	SPCXB
Max drawdown (400d)	-44.4%	-47.5%
Risk-adjusted return (90d)	-0.48	0.45

Relative strength over 90 days: SPCXB outperformed NVOON by 5.3% — measured on the NVOON/SPCXB ratio, so it holds regardless of market direction.

Novo Nordisk (Ondo Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →