SpaceX (bStocks Tokenized Stock) (SPCXB) is 52.7× the size of Oracle (Ondo Tokenized Stock) (ORCLON) by market capitalisation. Their daily returns move loosely together (correlation 0.40 across 109 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against ORCLON's 60%.
$123.7300
$135.3700
ORCLONSPCXB
0.40over 109 shared trading days
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.
| Metric | ORCLON | SPCXB |
|---|---|---|
| Max drawdown (400d) | -62.5% | -47.5% |
| Risk-adjusted return (90d) | -0.14 | 0.45 |
Relative strength over 90 days: ORCLON outperformed SPCXB by 8.7% — measured on the ORCLON/SPCXB ratio, so it holds regardless of market direction.