Palo Alto Networks (Ondo Tokenized Stock) vs SpaceX (bStocks Tokenized Stock)

SpaceX (bStocks Tokenized Stock) (SPCXB) is 72.1× the size of Palo Alto Networks (Ondo Tokenized Stock) (PANWON) by market capitalisation. Over the past 90 days, SPCXB is ahead by 18.3 percentage points (PANWON +9.9% against SPCXB +28.2%). Their daily returns move barely together (correlation 0.12 across 109 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against PANWON's 54%.

Correlation: 0.12
Size ratio: 1 : 72.1
Ahead over 90 days: SPCXB

Palo Alto Networks (Ondo Tokenized Stock)PANWON

$341.5100

24h: -3.54%
Market cap: $2.71M
Volume 24h: $144,722
Volatility (ann.): 54%

SpaceX (bStocks Tokenized Stock)SPCXB

$132.9400

24h: -3.48%
Market cap: $195.62M
Volume 24h: $53.04M
Volatility (ann.): 71%

PANWON 1.4%Share of the two combined market caps98.6% SPCXB

Performance

PANWONSPCXB

7 days+1.11%-5.60%PANWON
30 days+1.15%-11.42%PANWON
90 days+9.88%+28.18%SPCXB

Correlation

0.12over 109 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.0390d: 0.091y: 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	PANWON	SPCXB
Max drawdown (400d)	-16.6%	-47.5%
Risk-adjusted return (90d)	0.18	0.45

Relative strength over 90 days: PANWON outperformed SPCXB by 29.5% — measured on the PANWON/SPCXB ratio, so it holds regardless of market direction.

Palo Alto Networks (Ondo Tokenized Stock) →SpaceX (bStocks Tokenized Stock) →