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

SpaceX (bStocks Tokenized Stock) (SPCXB) is 88.3× the size of PepsiCo (Ondo Tokenized Stock) (PEPON) by market capitalisation. Their daily returns move barely in opposite directions (correlation -0.01 across 110 shared trading days). SPCXB has been the more volatile of the two, at 71% annualised against PEPON's 22%.

Correlation: -0.01
Size ratio: 1 : 88.3

PepsiCo (Ondo Tokenized Stock)PEPON

$143.0600

24h: +4.01%
Market cap: $2.26M
Volume 24h: $141,370
Volatility (ann.): 22%

SpaceX (bStocks Tokenized Stock)SPCXB

$134.7600

24h: -0.01%
Market cap: $199.41M
Volume 24h: $52.76M
Volatility (ann.): 71%

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

Performance

PEPONSPCXB

7 days-2.04%-6.33%PEPON
30 days-8.53%-21.79%PEPON
90 days-8.20%+17.70%SPCXB
1 year-7.39%——

Correlation

-0.01over 110 shared trading days

−1 opposite0 unrelated+1 in step

7d: insufficient data30d: 0.1990d: -0.041y: 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	PEPON	SPCXB
Max drawdown (400d)	-23.4%	-47.5%
Risk-adjusted return (90d)	-0.37	0.28

Relative strength over 90 days: SPCXB outperformed PEPON by 3.0% — measured on the PEPON/SPCXB ratio, so it holds regardless of market direction.

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